Mastercard announced that it will acquire bill pay platform Transactis for an undisclosed amount. Transactis’ technology is used by bank and nonbank partners to enable businesses to streamline their bill collection digitally — including firms that typically don’t support digital bill pay, like property owners.
Here’s what it means: This acquisition can help Mastercard further develop Bill Pay Exchange ahead of its full roll out.
Mastercard debuted Bill Pay Exchange last year — and it’s slated for a full launch later this year.The offering facilitates bank-based real-time bill payments: It is integrated into Mastercard issuers’ apps through APIs and will leverage infrastructure from The Clearing House (TCH) so that users can pay bills to over 135,000 billers in real time.
