Xign Recieves Investment from MasterCard, and Signs Agreement with Williams
Xign Corporation has received an equity investment for an undisclosed sum from MasterCard International. The funds from the MasterCard investment will be primarily used to expand Xign sales, operations, and research and development activities, and to enhance MasterCard’s initiatives tied to the MasterCard Corporate Purchasing Card and the MasterCard e-P3 electronic payment and information management service. In a separate agreement Williams, an integrated natural gas company, has selected Xign to automate its Order to Pay processes. The Xign Order to Pay service is designed to eliminate paper and data entry and lower costs for the settlement of business transactions. In the first phase of the Xign deployment, the focus will be on increasing the volume of electronic transactions to reduce invoice-processing costs for Williams.