Online Resources Corporation (Nasdaq: ORCC), a leading provider of online financial services, today announced a new program that offers a lower cost option for utilities to provide their customers the ability to pay their bill with a Visa card.
Available now through Online Resources' eCom AdvantageSM suite of electronic billing solutions for payments, presentment and receivables, utilities may take advantage of a program that allows for lower merchant discount rates for Visa payments made in a channel in which a convenience fee is not assessed. eCom Advantage payment channels include the Internet, email, Interactive Voice Response (IVR) and call center environments. For example, utilities will have the opportunity to receive lower merchant discount rates for Visa payments made through the Internet, as long as no convenience fee is assessed for Internet payments.
Online Resources takes a comprehensive view of a utility's available payment channels and their
associated processing costs. By levering the full payment mix, utilities can take advantage of a low- or no-cost payment service that also maximizes options for as many as 60% of their customers who carry a Visa card.
"Now utilities can better serve their customers by offering preferred payment types and at the same time lower overall payment processing costs," said Robert R. Craig, executive vice president of eCommerce Services for Online Resources Corp. "We are very pleased to leverage
our full suite of integrated payment channels to make processing affordable for utilities."