Mastercard has agreed to acquire Transactis, the New York based electronic and billing and payment processing platform. The company raised its Series A in 2007 and has raised over $70m in total from investors such as Capital One, QED Investors, and Fifth Third Bank.
With the acquisition of Transactis, Mastercard will now be able to address bill payment needs in online bank applications as well as in biller websites with enhanced end user interfaces, expanded payment options and digital bill presentment capabilities. Led by Joe Proto, CEO, Transactis has developed a technology platform for companies to improve their customers’ bill payment experience, while reducing inefficiencies associated with paper bills and checks. It provides access to a flexible digital service that can be used by even the smallest businesses, such as schools and property owners, who often don’t support online bill pay.