Online Resources Expands Payments Presence in Utility Market

CHANTILLY, Va. — Online Resources Corporation (Nasdaq: ORCC), a leading provider of online financial services, today announced that over the last six months it has signed new agreements with more than 40 utilities across the nation for various services within its eCom Advantage suite of electronic billing solutions.

When utilities choose Online Resources, they provide their customers with expanded, convenient options for making payments and real-time acknowledgment of payment posting, which can prevent the inconvenience of costly shut-offs.

Seven new biller-direct utility clients, including three of the 15 largest electric utilities and the largest investor-owned water utility in the U.S., selected Online Resources to power their customers’ billing and payments. Customers can pay through the Internet, email, Interactive Voice Response (IVR) or call center environments.

Other new utility clients opted for the company’s electronic lockbox service for streamlined reconciliation of remittances and posting of accounts receivables. eLockbox concentration services combine hundreds of electronic sources into a single posting file and a single deposit while eliminating posting errors and exceptions.

Florida-based Lee County Electric Cooperative, one of the largest electric distribution cooperatives in the nation, uses the company’s payment services to provide its customers more convenient options to pay. Joseph Padgett, Head of Customer Care Operations, said, "We rely on Online Resources to help us provide our customers the best service possible, and that includes allowing them to pay their bills quickly and conveniently no matter what method they choose. Further, by working with Online Resources, we can rest assured we are always compliant with payment and customer privacy regulations. Implementing their service has been a huge success."

"Utilities are increasingly looking to Online Resources’ suite of electronic billing, payment and receivables solutions designed to meet the varied payment preferences of their customers," said Robert R. Craig, executive vice president of eCommerce Services for Online Resources Corp. "We look forward to providing our utility clients additional customer service and cost benefits as we further drive online enrollment, move customers from paper to electronic billing and offer additional options such as text and iPhone apps."

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 utilities, credit card, auto finance, mortgage, insurance, healthcare and telecommunications.

About Online Resources
Online Resources specializes in powering financial interactions between millions of consumers and the company’s financial institution and biller clients. 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 has been recognized for its high growth and product innovation. It is the largest financial technology provider dedicated to the online channel. For more information, visit www.orcc.com.