Mastercard agrees to acquire Transactis, a platform that helps companies improve their customers’ bill payment experience, while reducing inefficiencies associated with paper bills and checks.
The acquisition of Transactis supports Mastercard's efforts to accelerate growth of Mastercard Bill Pay Exchange.
Transactis distributes its technology through a broad network of bank and non-bank partners and provides access to digital service that can be used by small business, such as schools and property owners, who often don't support online bill paying.
Terms weren't disclosed; the transaction is expected to close in Q2.
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