The deal gives Visa access to software that fintech app developers use to interface with customers' bank accounts.
The move is part of Visa’s effort to push into the high-value cross-border transaction market.
“We believe Transfast gives us the strongest platform to immediately enhance our cross-border [payments] capabilities," Mastercard says.
The companies said they have already set aside funds to cover the penalty.
AriseBank called itself the first "decentralized bank" and claimed to have acquired two FDIC-insured institutions.
A minority but growing number of employers give employees bonuses and raises based on this year's tax windfall; Visa leads the way with huge 401(k) boost.
Strong consumer spending overseas helped drive Mastercard's gross dollar volume to $1.4 trillion in the third quarter.
The company is benefiting from healthy consumer spending but faces increased costs as it spends on digital payment initiatives.
The retailer says in an antitrust suit that Visa and MasterCard are trying to block the use of PINs to verify chip-card transactions.
The retailer says Visa is encouraging fraud by requiring it to allow customers to verify transactions with a signature rather than a PIN.
The disclosure of the size of Visa's 2011 investment fuels speculation about its plans with the mobile payments startup.
The company is continuing to see relatively strong payments volume growth but the dollar has "meaningfully reduced" revenue growth.
