Supports Efforts to Transform and Accelerate
Growth of Mastercard Bill Pay Exchange
Mastercard (NYSE: MA) today announced it has entered into an
agreement to acquire Transactis, a platform that helps businesses
deliver bills and receive payments through one simple-to-navigate
experience.
In today’s digital age, a surprising 44 percent of the 15
billion bills that Americans pay each year are made by paper check
or cash. Consumers who pay their bills online do so in a variety of
ways, including online banking applications or biller’s
websites.
Transactis’ technology helps companies 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.
Transactis distributes its technology through a broad network of
bank and non-bank partners.
“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.”
Redefining Online Bill Pay
Last fall, Mastercard announced Mastercard Bill Pay Exchange, a
new digital solution that makes it easier for consumers to view,
manage and pay telecom, utility, rent, credit card, mortgage and
other personal bills. The platform allows consumers to use their
existing banking apps to easily set up all billers, receive
notifications when a bill is due, see bill details, and manage
multiple bills in one place including specifying when and how much
to pay.
Bill Pay Exchange is offered to banks and credit unions through
a core set of APIs, enabling them to provide this service to their
customers through one easy interaction. While some bill pay
services only offer card or ACH-based payments, Bill Pay Exchange
provides the choice of all payment types – including real-time
payments – through the consumer’s existing online or mobile banking
app.
Enhanced Capabilities, Better Experience
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.
“Mastercard has been a great partner and pushed the industry
forward in this space,” said Joe Proto, Transactis CEO.
“Historically, neither the Bank Bill Pay nor Biller Direct models
has delivered the ideal experience or the complete solution. We see
this as a unique opportunity to bring our complementary
technologies together to deliver a better bill pay experience
accelerating the migration of paper bill and checks to these online
channels.”
Terms of the agreement were not disclosed. The transaction is
anticipated to close in the second quarter. Mastercard Bill Pay
Exchange is slated for full launch later in the year.
About Mastercard
Mastercard (NYSE: MA), www.mastercard.com, is a
technology company in the global payments industry. Our global
payments processing network connects consumers, financial
institutions, merchants, governments and businesses in more than
210 countries and territories. Mastercard products and
solutions make everyday commerce activities – such as shopping,
traveling, running a business and managing finances – easier, more
secure and more efficient for everyone. Follow us on
Twitter @MastercardNews, join the discussion on
the Beyond the Transaction
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the Engagement Bureau.
About Transactis
Transactis transforms traditional billing and payment processing
with innovative, reliable, and secure digital solutions. Its
advanced technology simplifies receivables management, and is
delivered to market through banks and service providers that
support millions of businesses. Transactis meets the strictest
regulatory and compliance requirements including HIPAA, SSAE 16,
PCI Level 1, and SOC 2. Transactis has received the Inc. 500 Award,
Deloitte Technology Fast 500 Award, AlwaysOn OnFinance Top 100
Award, Red Herring Top 100 Award, PYMNTS Innovation Award,
PayStream Advisors Innovative Technology Award, and has been named
a ‘Cool Vendor’ by Gartner. Transactis’ investors include Compound,
ff Ventures, MacAndrews & Forbes, Safeguard, StarVest, Capital
One, Fifth Third, PNC, TD and Wells Fargo. For more information,
please visit Transactis.com or follow us on
Twitter @TransactisUS.
Forward-Looking Statements
This press release contains forward-looking statements pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. All statements other than statements of
historical facts may be forward-looking statements. When used in
this press release, the words “believe,” “expect,” “could,” “may,”
“would,” “will,” “trend” and similar words are intended to identify
forward-looking statements. Examples of forward-looking statements
include, but are not limited to, statements that relate to
Mastercard’s future prospects, developments and business
strategies, as well as Mastercard’s acquisition and operation of
Transactis’ business. We caution you to not place undue reliance on
these forward-looking statements, as they speak only as of the date
they are made. Except for the company’s ongoing obligations under
the U.S. federal securities laws, the company does not intend to
update or otherwise revise the forward-looking information to
reflect actual results of operations, changes in financial
condition, changes in estimates, expectations or assumptions,
changes in general economic or industry conditions or other
circumstances arising and/or existing since the preparation of this
press release or to reflect the occurrence of any unanticipated
events.
Many factors and uncertainties relating to the proposed
transaction, our operations and our business environment, all of
which are difficult to predict and many of which are outside of our
control, influence whether any forward-looking statements can or
will be achieved. Any one of these factors could cause our actual
results or the impact of the acquisition to differ materially from
those expressed or implied in writing in any forward-looking
statements made by Mastercard or on its behalf. Such factors
related to the completion and impact of the acquisition include,
but are not limited to, whether all necessary conditions will be
met, and whether the transaction will close on agreed terms and in
a timely manner.
For additional information on other factors related to
Mastercard’s overall business that could cause Mastercard’s actual
results to differ materially from expected results, please see the
company’s filings with the Securities and Exchange Commission,
including the company’s Annual Report on Form 10-K for the year
ended December 31, 2018, and any subsequent reports on Forms 10-Q
and 8-K.
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version on businesswire.com: https://www.businesswire.com/news/home/20190503005240/en/
Investor Relations: Gina Accordino,
investor.relations@mastercard.com, 914-249-4565Communications: Seth
Eisen, Seth.Eisen@mastercard.com, 914-249-3153
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