Online Resources Launches Disbursement Payment System
Online Resources has launched the eCommerce Services unit, a disbursement solution. DIRECTV is one of five billers that implemented the service in the first quarter of 2008.
The disbursement solution satisfies a range of applications across a variety of industries including mortgages, credit cards, insurance, utilities, health care and others. Typical uses include refunds, rewards payments, credit card balance transfers, settlements, escrow payments, insurance claims, royalty payments and flexible spending account reimbursements.
Online Resources manages business-to-consumer and business-to-business payments through the disbursement lifecycle. Compared to in-house processing, clients typically reduce their processing costs by 30% or more, due in part to Online Resources’ network of over 6,000 electronic biller endpoints, claims the company.
“For 20 years, Online Resources has had the infrastructure in place to facilitate online payments to the full spectrum of billers as well as consumers,” said Robert Craig, Online Resources’ executive vice president and general manager of eCommerce Services. “This fully automated electronic payables service for both banks and billers is a natural extension of our full suite of EBPP [electronic bill presentment and payment] and electronic receivables services.”