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Online Resources Announces That American Water Renews Contract for Payment Processing Services

^{Published on 2010-06-09 21:00:12 - Market Wire}
 

CHANTILLY, Va.--([ BUSINESS WIRE ])--Online Resources Corporation (Nasdaq: ORCC), a leading provider of online financial services, today announced that American Water has renewed a multi-year agreement for its eCom Advantage biller-direct payment services. American Water is the largest investor-owned water and wastewater utility company in the U.S., serving approximately 16 million customers.

"We are pleased to expand our relationship with American Water and look forward to enhancing their customer interfaces with additional, high quality bill payment options."

One of Online Resourcesa™ largest eCommerce Services clients, American Water has used the companya™s online bill payment services since 2003. Today Online Resources powers customer payments to American Water via the Internet, Interactive Voice Response (IVR) and call center environments. Under the new agreement, American Water will have the option to expand the services it provides to its customers through the eCom Advantage suite of services, including bill presentment, text, iPhone apps, email and other methods.

aOnline Resources plays an instrumental role in helping American Water leverage its Web and phone-based channels to better serve our customers,a said Glisson Inguito, Corporate Treasury representative for American Water Works Company. aWe look forward to providing a complete suite of payment options that meet our customersa™ needs and preferences.a

aWith its commitment to offering a variety of consumer-facing channels, American Water is raising the bar for customer service excellence,a said Robert R. Craig, Online Resourcesa™ executive vice president of eCommerce Services. aWe are pleased to expand our relationship with American Water and look forward to enhancing their customer interfaces with additional, high quality bill payment options.a

Online Resources eCom Advantage Suite is the most comprehensive set of electronic billing solutions for presentment, payment and receivables management to billers in many industries including credit card, auto finance, mortgage, insurance, healthcare, telecommunications and utilities.

About Online Resources

Online Resources (Nasdaq: ORCC) powers financial interactions between millions of consumers and the companya™s financial institution and biller clients, including 12 of the top 13 U.S. retail banks and 13 of the top 20 U.S. card issuers.Backed by its proprietary payments gateway that links banks directly with billers, the company provides web and phone-based financial services, electronic payments and marketing services to drive consumer adoption. Founded in 1989, Online Resources is the largest financial technology provider dedicated to the online channel. For more information, visit [ www.orcc.com ].

This news release contains statements about future events and expectations, which are "forward-looking statements." Any statement in this release that is not a statement of historical fact may be deemed to be a forward-looking statement. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Specifically factors that might cause such a difference include, but are not limited to the Companya™s: history of losses; dependence on the marketing efforts of third parties; potential fluctuations in operating results; ability to make and successfully integrate acquisitions of new businesses; potential need for additional capital; potential inability to prevent systems failures and security breaches; potential inability to expand services and related products in the event of substantial increases in demand; competition; ability to attract and retain skilled personnel; reliance on patents and other intellectual property; exposure to the early stage of market adoption of the services it offers; exposure to the consolidation of the banking and financial services industry; and additional risks and uncertainties discussed in filings made by the Company with the Securities and Exchange Commission, including those risks and uncertainties contained under the heading "Risk Factors" in the Company's Form 10-K, latest 10-Q, and S-3 as filed with the Securities and Exchange Commission. These factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements.