Visa has made an investment in digital transaction company DocuSign, giving the card network closer ties to a suite of technology that automates payments documents.

DocuSign provides an open platform that enables companies to send, sign, track and store documents via a cloud server. It also enables companies to collect information and payments, automate workflows and execute transactions.

The two companies will work on technology designed to help customers prepare, execute and manage digital transactions and integrated payments. Terms of the investment were not disclosed.

"Both Visa and DocuSign have a common vision to help consumers and organizations transact business in confidence," says Ryan McInerney, president of Visa, in a July 14 press release. "Our mutual objective is to eliminate paper-based transactions. For Visa, the competition is cash, for DocuSign it is paper. Visa is proud to invest and support DocuSign as it creates a digital standard that will help everyone transact business more conveniently, quickly and securely around the world."

Visa's efforts to reduce paper from payments processing include a partnership with SAP, while DocuSign entered a processing partnership with PayPal in 2012.

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