MILWAUKEE – Metavante Corporation, the financial technology subsidiary of Marshall & Ilsley Corporation has signed a definitive agreement to acquire the assets of Paytrust, Inc., a privately held online bill management company based in Lawrenceville, N.J. Metavante provides electronic presentment and payment services to financial institutions, including four of the five largest banks in the country. "Paytrust complements the end-to-end Metavante e-Finance technology platform and allows us to consolidate the industry's leading consumer-service provider offerings, with the technology we acquired in 2001 from CyberBills," said Joseph L. Delgadillo, Metavante president/CEO. Founded in October 1998, Paytrust has successfully deployed private-label electronic bill centers for 23 clients, including large financial service providers such as American Express, Citibank, E*TRADE, and Capital One. The Paytrust CSP offerings include both electronic and scan-and-pay presentment of bills, invoices and statements, coupled with "pay anyone" functionality. The company has developed proprietary technology including SmartBills(TM), a bill aggregation tool now for 33 direct biller Web sites, representing 50 electronic billers; and SmartBalance(TM), an online check register now connected to more than 200 financial institutions.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.