New Standard to Help Retailers Process Health-Spending Debit Cards

An industry standard was introduced yesterday that will help food retailers meet Internal Revenue Service requirements when accepting flexible spending account (FSA) and health reimbursement arrangement (HRA) debit cards.

SAN RAMON, Calif. — An industry standard was introduced yesterday that will help food retailers meet Internal Revenue Service requirements when accepting flexible spending account (FSA) and health reimbursement arrangement (HRA) debit cards. The standard was announced by the Special Interest Group for IIAS (inventory information approval system) Standards (SIGIS) here. The group’s standards will enable a broad range of participants in health benefit payment card transactions, including food r

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