25 November 2017
visit www.aciworldwide.com

American banks invest in electronic billing and payments outfit Transactis

18 April 2016  |  5826 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, 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  |  5584 views  |  0 comments | 3 tweets | 3 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.solutions.lexisnexis.comvisit www.response.ncr.comvisit www.aciworldwide.com

Top topics

Most viewed Most shared
Sepa instant payments goes liveSepa instant payments goes live
11004 views comments | 46 tweets | 79 linkedin
ING brings data privacy to blockchain transactionsING brings data privacy to blockchain tran...
9556 views comments | 25 tweets | 37 linkedin
hands typing furiouslyHow Fintech Companies are disrupting the C...
8223 views 0 | 20 tweets | 9 linkedin
Axis Bank uses Ripple to open new payment corridors between the UAE and SingaporeAxis Bank uses Ripple to open new payment...
8212 views comments | 8 tweets | 22 linkedin
UK Open Banking expanded to cover all PSD2 productsUK Open Banking expanded to cover all PSD2...
7908 views comments | 21 tweets | 47 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job