Visa U.S.A. Inc. and Checkfree Corp. announced plans Wednesday to form a joint venture to process electronic bill payments.

The companies said they intend to combine existing assets and activities to create a "bill payment and remittance infrastructure for the nation's financial institutions and billers."

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.