Payments language demystified

A Flexible Spending Account (FSA) is a tax-advantaged account funded through pre-tax payroll contributions, allowing employees to pay for eligible medical, dental, and dependent care expenses. FSAs come with annual contribution limits and generally require funds to be used within the plan year. Some employers may provide grace periods or carryovers for unused funds, adding flexibility for account holders.

Finix simplifies accepting FSA card payments for businesses, enabling them to meet compliance requirements and streamline transactions. By supporting FSA card payments, Finix helps businesses expand their customer base, reduce cart abandonment, and cater to consumer payment preferences, ensuring a seamless checkout experience for both employers and employees.