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Online Payments

Mastercard to acquire Transactis for bill payment services

Monday 6 May 2019 | 08:03 AM CET

Mastercard has entered into an agreement to acquire Transactis, a US-based platform that helps businesses deliver bills and receive payments.

According to Mastercard, 44% of the 15 billion bills that Americans pay each year are made by paper check or cash. Consumers pay their bills online using online banking applications or biller’s websites.

Transactis provides a digital service that can also be used by small businesses, such as schools and property owners, who often do not support online bill pay. The company distributes its technology through a broad network of bank and non-bank partners.

Terms of the agreement were not disclosed. The transaction is anticipated to close in the second quarter of 2019. Mastercard Bill Pay Exchange is slated for full launch later in 2019.

For more information about Mastercard Payment Gateway Services, please check out a detailed profile of this company in our dedicated, industry-specific online company database.

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