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Transactis Supports Mastercard to Redefine Bank Bill Pay

November 7, 2018

  • PRESS

NEW YORK, NY – November 7, 2018 Transactis is honored to work with Mastercard to bring Bill Pay Exchange to market. This addresses the major obstacles to bank bill pay by providing up-to-date bill content, payer control over timing and method, and a complete user experience. Bill Pay Exchange brings the best features of the biller direct payer experience to revitalize bank bill pay, and allow Mastercard’s network of banks and credit unions to drive real-time consumer payments through bank bill pay channels.


"Partnering with Transactis enables us to add enhanced messaging for consumers and billers alike, including payment confirmation and remittance data," said Ronald Shultz, senior vice president, Product Management, Mastercard. "This will help with biller set-up and ensure that consumers have access to all information regarding their bills."


Transactis' delivers a complete suite of integrated biller direct solutions that allows businesses to meet the ever-expanding and evolving bill presentment and payment (EBPP) needs of their business customers and consumers. Transactis contributes over 10 years of biller direct knowledge and experience with detail presentment, payment options, notifications, and multiple bill management to assist Mastercard Bill Pay Exchange user experience. In addition, the bill content of Transactis’ customers can be accessed through Bill Pay Exchange contributing to the volume of content available for those consumers who want to view and pay all of their bills in one place.


Businesses can now get paid wherever and whenever their customers choose – the traditional biller direct channels and through bank bill pay sites. Regardless of which channel the payer chooses, the business will receive the money along with the data needed for automated reconciliation of the payment. Transactis will enable Bill Pay Exchange within its client network which includes 12 of the top 25 banks in the United States.


“This is a unique opportunity for banks to bring a seamless billing and payment experience to both consumers and businesses, and we are eager to help Mastercard integrate the customer advantages of biller direct to reinvent bank bill pay,” said Transactis CEO, Joe Proto. “Transactis was created to help banks drive value for their clients with advanced biller direct technology. As a partner to Mastercard’s Bill Pay Exchange, Transactis now helps promote next generation technology for its partner banks’ bill pay efforts.”


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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.


Transactis Contact

Laura Mitchell / Transactis
347.844.6742 / lmitchell@transactis.com



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 Blog and subscribe for the latest news on the Engagement Bureau.


Mastercard Communications Contact


Chaiti Sen / Mastercard
914.263.6542 / chaiti.sen@mastercard.com


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