Mastercard Inc. has entered into an agreement to buy Transactis, a digital bill payment platform, according to a press release.

The platform makes it easy for companies of all sizes, even property owners and schools, that typically don’t collect bills online, to accept online and mobile payments.

"We see Transactis as strengthening our support in the bill payment space," said Colleen Taylor, executive vice president of new payment platforms at Mastercard, in the release. "Transactis' technical and commercial know-how, combined with our reach and comprehensive payment options will greatly simplify the entire process."

The acquisition follows the debut last fall of Mastercard Bill Pay Exchange, a platform that lets consumers set up bill payments for mortgages, utilities, rent, credit cards and other bills. The exchange is slated to launch later this year. 

The exchange uses a series of API’s offered to banks and credit unions to allow consumers to set up bill payment through their own digital banking apps.

Terms of the deal, which is expected to close in the second quarter, were not disclosed.