Lynx is modernizing financial health technology and the way healthcare payments are made, managed, and processed with innovative solutions tailored for consumer-directed benefits, MA supplemental benefits,  wellness incentives, and more.

 The programmable wallet is at the forefront of this transformation—a versatile payment solution revolutionizing how companies can restrict spend, drive engagement and insights while improving experiences for their customers. 

How Does a Programmable Wallet Work? 

Lynx customers enjoy unlimited flexibility in programming their own wallet, with the ability to house multiple accounts on a single debit card, whether virtual or physical. This includes granular spend controls down to specific product SKUs at over 60,000 retailers while also linking a personal checking account to the same debit card. Lynx empowers customers with control via API, enabling them to build these customized payment vehicles in just weeks. 

These flexible and secure payment solutions can be instantly issued in physical or virtual form, with funds restricted to specific categories, merchant IDs, or product SKUs. While SKU-restriction capabilities are available at over 60,000 retailers, these wallets are accepted by millions of merchants worldwide via Mastercard and Visa. These debit cards can hold multiple accounts and funded benefits, eliminating the need for separate cards for a single user. 

Who is it for? 

Lynx's programmable wallets and advanced payment processing solutions are designed to cater to a wide range of entities, including health plans, financial institutions such as banks, retirement administrators, digital health companies, ICHRA administrators and tech companies, in addition to consumer-directed healthcare administrators.  
 
Let's look into a few unique use cases: 

Consumer Directed Health Administrators  

Many Consumer Directed Health administrators are striving to create a seamless single-user experience. For banks, this could mean unifying various payment methods into one cohesive experience for individuals. Today, it is challenging to achieve this across the multiple products banks offer, such as Checking Accounts, Savings Accounts, and Credit Cards, with Health Savings Accounts (HSAs) often sitting outside the core mobile banking experience. 

With Lynx, an HSA and Checking Account can coexist on the same debit card. Lynx technology enables individuals to purchase candy, prescriptions, and more at the pharmacy with a single swipe. Customers use Lynx programmable wallets to handle the complex task of deducting non-eligible expenses from the checking account and eligible expenses from the HSA, providing a streamlined and efficient payment solution. Additionally, if a bank has an employer customer who wants to provide a healthy food stipend within the same wallet, restricted to specific products at large supermarket chains, this can be easily adjusted using Lynx APIs within our programmable wallet. 

Health Plans 

Many commercial health plans have historically tried to engage members in their health with wellness incentives, often fulfilled with retail gift cards. When doing this, the health plan's dollars sit on the retailer's balance sheet, causing the plan to lose insight into where the dollars are utilized and what they are spent on while also forfeiting interest revenue. With Lynx programmable wallets, Health Plans can create their own branded wallet, open to anywhere Mastercard is accepted or restricted to specific retailers. Lynx technology supports granular control, allowing, for instance, a Chobani Yogurt Card that can be used at multiple retail locations. Additionally, Health Plans gain real-time insights into utilization, tracking purchases down to the member level. 

This capability extends to Government-focused health plans. In the supplemental benefits space, plans no longer need to choose between benefit types. A wallet can be funded and set up for multiple types of spending benefits, whether restricted to the SKU for an OTC benefit or a grouping of pest control providers for at-home care support. Lynx programmable wallets provide a flexible, insightful, and efficient solution for managing diverse health plan incentives and benefits. 

Digital Health Companies 

Digital health companies can leverage Lynx programmable wallets to innovate the administration of benefits. For example, a D2C online care platform can introduce a loyalty program with Lynx technology, offering cash back like a traditional retail loyalty program, but can restrict the cash back to value-added services such as virtual care. Additionally, if the company wants to extend the benefit to a physical debit card to unlock partner benefits, such as OTC stipends and healthy food stipends at retail locations, this can be seamlessly integrated through the programmable wallet. Lynx provides the flexibility to design tailored benefit programs that enhance user engagement and streamline the administration of various incentives and stipends. 

Why is This Exciting? 

The introduction of Lynx's programmable wallet is revolutionary in the market. Unlike any other offering, Lynx allows users to not only program a debit card but also restrict it down to the SKU level, offering unprecedented granularity and control.  

With Lynx, You Get to Decide: 

• Would you like a virtual or physical card?

• How many “purses” would you like on the card?

• What transactions should each purse support?

• How should the purses be funded (in advance or just-in-time)

• How would you like to brand the card?

• Plus, much more! 

What sets Lynx apart is its innovative API model, enabling programming down to the SKU and the capacity to house multiple purses on a single card—a feature unmatched by other platforms, and all of this can be built in 8-weeks by tech-enabled customers. 

This innovation is widely applicable, especially for newer administrators relying on card-issuing platforms that cannot limit payments to the SKU level.  

Ready to unlock the potential of Lynx's programmable wallet for your organization? Check out Lynx CDH Core to see how it works, or contact Lynx today to explore how our tailored solutions can revolutionize your payment processes and drive greater convenience and control.