21 February 2018
Visit www.avoka.com

American banks invest in electronic billing and payments outfit Transactis

18 April 2016  |  5959 views  |  1 Cheque with penci

Some of America's biggest financial institutions - Capital One, Fifth Third, PNC, TD, and Wells Fargo - have joined a $30 million Series E funding round for electronic billing and payments firm Transactis.

The banks, along with Safeguard Scientifics, each put $5 million into New York-based Transactis, which says that its technology reaches more than 100 million households and businesses in North America.

The company offers configurable, white-label, SaaS technology that promises to enable businesses of all sizes to replace paper bills, statements, invoices, payments and documents with efficient and cost effective digital alternatives.

Joe Proto, chairman and CEO, Transactis, says: "Businesses of all sizes rely on their banks to provide secure, innovative billing and payment services. We are so proud to serve the most progressive banks in the payments industry and even more proud that Capital One, Fifth Third, PNC, TD, and Wells Fargo are more than our customers, they're also now our investors."

Rick Burke, head, corporate products and services, TD, adds: "Business back offices are still paper-heavy, and TD is committed to helping more than half a million businesses we serve become more time and resource efficient. We believe that our investment in Transactis will help meet our customers' demand for leading electronic payment solutions across North America."

Comments: (1)

Bo Harald
Bo Harald - ZEF, Transmeri, Demos, Real Time Economy Program - Helsinki Region | 18 April, 2016, 19:26

Natural part of payment services. And by integrating e-invoice data to account statements automated accounting is enabled. The next step we are working on is sending cash register receipts in the same e-invoicing format to the same automated real time accounting process. Anybody disagreeing? Thinking that this is not the future? Or that we can afford to drag our feet?

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

ACI Worldwide to buy EBPP firm Official Payments for $109 million cash

ACI Worldwide to buy EBPP firm Official Payments for $109 million cash

23 September 2013  |  5674 views  |  0 comments | 3 tweets | 3 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit http://info.nice.comvisit www.ebaday.comVisit www.vasco.com

Top topics

Most viewed Most shared
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
10107 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
9709 views 10 comments | 22 tweets | 26 linkedin
Coinbase and Visa at loggerheads over erroneous charges on customer crypto accountsCoinbase and Visa at loggerheads over erro...
8473 views comments | 13 tweets | 12 linkedin
BBVA-backed digital banking startup targets gig economy workersBBVA-backed digital banking startup target...
7142 views comments | 8 tweets | 12 linkedin
hands typing furiouslyMaking Customer Experience Your Business
6846 views 0 | 7 tweets | 5 linkedin

Featured job

Find your next job