MA MasterCard Incorporated

By Michael Dabaie

Mastercard (MA) agreed to acquire billing and payment processing digital solutions company Transactis.

Mastercard said the deal will support its efforts to accelerate growth of Mastercard Bill Pay Exchange, which is slated for full launch later in the year. Transactis distributes its technology through bank and non-bank partners.

With the acquisition of Transactis, Mastercard said it will 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.

Mastercard said it didn't disclose terms of the deal, which it anticipates closing in the second quarter.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

May 03, 2019 09:18 ET (13:18 GMT)

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