SOURCE: 3i Infotech

3i Infotech

3i Infotech

November 07, 2011 08:18 ET

3i Infotech Billing & Payments and Online Resources Team to Deliver Complete Electronic Payment Solution

Agreement Expands 3i Infotech Billing & Payments' Channel Management Strategy to Provide Customers the Widest Selection of Electronic Payments Processing Solutions

BOSTON, MA and CHANTILLY, VA--(Marketwire - Nov 7, 2011) - 3i Infotech Billing & Payments, a leading provider of software and solutions for the end-to-end corporate revenue chain, and leading financial technology provider Online Resources Corporation (NASDAQ: ORCC), today announced a reseller agreement that will deliver a complete electronic payment and processing solution to customers.

The companies will integrate Online Resources' Payment Advantage solution, which enables electronic payments on a one-time basis or through enrollment, with 3i Infotech's presentment and processing solutions. The new relationship is part of 3i Infotech Billing & Payments' Center of Excellence and core to its ongoing channel management consolidation strategy designed to optimize client revenue chains through improved efficiency, simplicity and cost controls.

"This joint offering allows organizations to add advanced electronic channels to their billing and payment strategy while at the same time simplifying and streamlining those processes," said Lynn Boggs, CEO, 3i Infotech Billing & Payments. "This partnership is yet another example of our ongoing strategy to integrate with best of breed solutions to maximize the value we provide to our customers."

Online Resources' proprietary payments network, one of the largest in the industry, directly links virtually all U.S. banks with more than 8,000 billers and powers more than 250 million payment transactions annually. Online Resources' Payment Advantage solution is one component of its 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.

"Online Resources and 3i Infotech Billing & Payments have similar expertise and focus around high volume transaction handling, which bring tremendous synergies to a customer engagement," said Eric M. Labiak, Chief Sales Officer for Online Resources. "Our collective understanding of customer needs has allowed us to create a joint solution for expanded capabilities without placing additional burdens on internal support resources and infrastructure."

3i Infotech Billing & Payments is the largest provider of outsourced remittance processing, one of the largest third party billers, and a leading provider of payment processing platforms and technology. Each year, the company manages the presentment of one out of every 25 consumer statements mailed in the US. It processes more than 640 million payments annually totaling 2% of the nation's consumer checks.

Each of these electronic billing and payment services are available together or individually from either company. The agreement was announced today at the AFP Annual Conference taking place November 6-9, where 3i Infotech Billing & Payments is exhibiting in booth #1638.

About 3i Infotech Billing & Payments
3i Infotech Billing & Payments combines people, processes and a rich suite of proven technologies to deliver best practices and highly customized solutions for all aspects of a company's end-to-end revenue chain. Home to the Global Billing & Payments Center of Excellence, the company leverages its deep domain expertise in select vertical markets such as banking, financial services, insurance, government, manufacturing, retail, telecom, healthcare and utilities to deliver the ideal mix of on-site, software-as-a-service (SaaS) and outsourced solutions to serve each customer's unique needs. 3i Infotech Billing & Payments consists of the subsidiaries formerly known as Regulus Group and J&B Software, and recently became a standalone company.

About Online Resources
Online Resources (NASDAQ: ORCC) 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

Online Resources Corporation

This press release provided by Online Resources Corporation (as well as other written and oral statements made by the company from time to time) contains forward-looking statements which are based on our management's current expectations and beliefs, and on a number of assumptions concerning future events which have been made with only information that is currently available. The words "will," "would," "could," "may," "should," "estimate," "project," "forecast," "intend," "expect," "believe," "target," "designed," "plan," and similar expressions are intended to identify forward-looking statements. Readers are strongly cautioned not to place undue reliance on such forward-looking statements, which are not a guarantee of any results or performance and are subject to a number of known and unknown risks, uncertainties and other factors (including those which are outside of Online Resources' control) which could cause actual performance or results to differ materially and adversely from any results or performance expressed or implied by such forward-looking statements. Certain factors that might cause such a difference include, but are not limited to: our history of losses and anticipation of future losses; potential fluctuations in our operating results; our dependence on the marketing efforts and technology of third parties; the potential loss of one or more material clients; our potential need for additional capital; our potential inability to prevent systems failures and security breaches; our potential inability to expand our services and related products in the event of a substantial increase in demand for such services and products; competition in our markets; our ability to attract and retain skilled personnel; our reliance on patents and other intellectual property; potential change in the rate of user adoption of the products and services we offer; our exposure to continued consolidation in the financial services industry; and government regulations affecting our business and client base. For a more detailed description of the factors that could cause such a difference in our results, please refer to Online Resources' filings with the Securities and Exchange Commission, including (but not limited to) our Annual Report on Form 10-K filed with the SEC on March 15, 2011 and the information under the heading "Risk Factors" contained in our Quarterly Report on Form 10-Q/A filed with the SEC on August 10, 2011. Online Resources Corporation assumes no obligation to update or supplement any such forward-looking statements.

Contact Information

  • Media Contacts:
    Josh Wendroff
    3i Infotech Billing & Payments
    +1 (213) 216-1808
    Email Contact

    Robin Bectel
    New Venture Communications for 3i Infotech Billing & Payments
    +1 (571) 312-1448
    Email Contact

    Beth Halloran
    Online Resources Corporation
    +1 (703) 653-2248
    Email Contact