Online Resources Corporation (NASDAQ: ORCC) announced significant corporate growth of its biller-direct payment services, experiencing a 44 percent increase in transaction volume from 2009 to 2011. Setting new company records each year since 2007, ORCC delivers more than 80 percent of its bank-originated payments electronically, with as much as 89 percent in some urban areas, due to its direct biller connections. Through its Biller Endpoint Network, ORCC delivers electronic payments to more than 9,000 domestic biller endpoints. ORCC has more than tripled its biller endpoints in the past five years, and continues to add new endpoints to grow their network. Additionally, Boston-based research and advisory firm Aite Group projected biller-direct bill volume to increase by eight percent from 2010 to 2011 in its 2010 report “How Americans Pay Their Bills: Sizing and Forecasting Bill Pay Channels and Methods, 2010-2013.” ORCC significantly exceeded those projections, experiencing a 24 percent increase in biller-direct transactions in 2011 alone, demonstrating the company’s continued leadership as the industry’s preferred provider. According to Aite Group senior analyst Ron Shevlin, “Consumers are driven by convenience. With mass adoption of the Internet, paying bills online at biller sites have become the most convenient way to pay. And as mobile and tablet technologies continue to take hold, the biller-direct channel will continue to grow as the preferred method for bill pay.” The only truly independent bill pay solutions provider in the marketplace, ORCC offers fully-compliant bill payment solutions to its customers, enabling them to successfully leverage a full suite of integrated payments products that are configured and controlled by billers to manage the customer experience throughout the electronic billing and payment lifecycle. “Today’s biller organizations are challenged by compliance requirements of recent regulation and the evolving payment preferences of their customers,” said Eric Labiak, chief sales officer for ORCC. “To lower customer service costs without raising rates or sacrificing quality service, more billing organizations are expanding their acceptance of card payments. ORCC is well positioned to fulfill this need while providing billers with the highest level of flexibility and control in serving their customers, as reflected by our tremendous growth over recent years.”
Shares of Online Resources Corporation (Nasdaq:ORCC) were gapping down Wednesday morning with an open price 30.4% lower than Tuesday's closing price. The stock closed at $6.05 yesterday and opened today's trading at $4.21.