Purchase-headquartered Mastercard has announced the acquisition of Transactis Inc., which provides a billing and payment processing platform for businesses. The terms of the transaction were not disclosed.
Headquartered in New York City, Transactis distributes its digital technology through a network of bank and nonbank partners. The company’s scalable platform can accommodate the smallest entities, including schools and property owners who traditionally do not support online bill payments.
Mastercard said that the acquisition will enable it to address bill payment needs in online bank applications and on biller websites with enhanced end user interfaces while offering its customers expanded payment options and digital bill presentment capabilities.
“We see Transactis as strengthening our support of the bill payments space,” said Colleen Taylor, executive vice president of new payment platforms, North America for Mastercard. “Transactis’ technical and commercial know-how, combined with our reach and comprehensive payment options will greatly simplify the entire process.
“We’ll be able to deliver a better real-time consumer experience, from sign-up to viewing and paying bills, leveraging the investments that have been made in the core infrastructure,” Taylor added.