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Online Resources Enables Online ATM/Debit Card Payments for Healthcare Providers
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CHANTILLY, Va., Jun 25, 2009 (BUSINESS WIRE) -- Online Resources Corporation (Nasdaq:ORCC), a leading provider of online financial services, today announced that through a joint effort with First Data's STAR(R) Network, the companies can now offer low-cost, low-risk ATM/debit card payments to healthcare clients, offering consumers choice and convenience wherever they pay. Now web and phone-based ("online") ATM/debit card payments from healthcare organizations, such as hospitals, doctors, laboratories and other related healthcare billers, can be accepted on the STAR Network. The two companies are making this PINless bill payment method available to help healthcare billers reduce both expenses and losses. The STAR Network is a domestic coast-to-coast ATM/debit network that, in addition to other services, provides an online bill payment option for low risk biller categories. Online Resources provides its financial institution and biller clients online bill payment and processing services through its network of over 6,000 electronic biller endpoints. "At a time when healthcare information technology is a hot topic, we have a readily implementable solution to streamline the billing services for hospitals, physicians and associated providers while offering additional convenience for patients," said Robert Craig, executive vice president for eCommerce Services at Online Resources. "After 15 years of providing ATM/debits for financial institutions, Online Resources is pleased to extend this payment option to healthcare providers who are looking for a more efficient, real-time complement to credit card and other payment methods." The U.S. healthcare payment system processes $1.9 trillion a year, according to McKinsey & Company. Payment processing costs consume an inordinate 15 percent or more of each dollar spent. About Online Resources Online Resources (NASDAQ:ORCC) powers 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 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 Company'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. SOURCE: Online Resources Corporation Online Resources Corporation Copyright Business Wire 2009 |