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Mechanical Breakdown Protection Selects SEcureCard from StoneEagle

August 04, 2008

DALLAS -- Mechanical Breakdown Protection Inc. (MBPI), an extended vehicle service contract administrator, has selected the StoneEagle Group's SEcureCard to automate the claims management process for paying their client dealers and repair facilities.

SEcureCard is a business to business payment solution that has been providing third party administrators with a real-time approach for handling claim payments and reduced labor costs since 2004. SEcureCard eliminates the tedious manual reconciliation processes that normally can take claims departments an average of five to seven days to resolve.

Now, when a dealer or repair facility (otherwise known as a payee) requests approval for repairs covered under a MBPI program, the MBPI claims department authorizes a unique "one-time" use SEcureCard MasterCard number for each claim. The payee then receives an electronic authorization complete with the 16 digit number, expiration date and security code. Once the payee completes the repair and submits the transaction, SEcureCard immediately reconciles the information to the approved claim and the payment is automatically processed through the MBPI administration system.

"SEcureCard has created a number of benefits for MBPI. We are able to process payment to the dealer at a much quicker pace than before. We have also improved internal efficiencies by reducing the need for numerous reconciliation procedures while at the same time reducing fraudulent credit card usage," said George Meiners, CFO of MBPI.

"SEcureCard virtually eliminates overcharges and fraudulent activity associated with paying claims," said Bobby Allen, CEO of StoneEagle. "By implementing this program, MBPI has substantially reduced processing costs involved with payment issues and the time and labor associated with reconciling transactions. MBPI is among the leading administrators who have been able to accelerate service to their client base and simplify their entire claims payment process with SEcureCard."

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