US Dataworks, Inc. and Online Resources Form Alliance for End-to-End Electronic Payment Processing Solution
Tuesday June 20, 8:30 am ET
HOUSTON, June 20 /PRNewswire-FirstCall/ -- US Dataworks, Inc. (Amex: UDW - News), a leading developer of payment processing solutions, announced that it has formed a strategic alliance with Online Resources Corporation (Nasdaq: ORCC - News), a leading provider of financial technology services to more than 800 financial institutions, card issuers and billers. The agreement calls for Online Resources to incorporate into their payments gateway US Dataworks' innovative and proprietary technology, Clearingworks(TM), a comprehensive solution for Automated Clearing House (ACH) payment processing.
"After reviewing all possible software solutions on the market, we are pleased to have selected Clearingworks from US Dataworks to enhance our payments gateway with ACH processing capabilities to further meet the growing needs of our clients," stated Daniel M. Thomas, senior vice president of eCommerce Solutions for Online Resources.
"We are pleased with this newly established alliance which offers our Clearingworks solution and is uniquely suited for financial services providers like Online Resources," said Charles Ramey, Chairman and CEO of US Dataworks. "We believe that this alliance will only enhance future growth for US Dataworks. In addition, we think this partnership will open further opportunities for our company in the marketplace given the visibility Online Resources has to offer."
About Online Resources
Online Resources powers web-based financial services for over 800 firms nationwide. It provides a suite of proprietary banking and payment services that are branded to its client financial institutions. The Company serves over 4 million consumer end-users and processes $15 billion in payments annually. Founded in 1989, Online Resources (Website: orcc.com ) is a recognized leader in financial technology services.
About US Dataworks, Inc.
US Dataworks is a developer of payment processing solutions, focused on the Financial Services market, Federal, State and local governments, billers and retailers. Software developed by US Dataworks is designed to enable organizations to transition from traditional paper-based payment and billing processes to electronic solutions that automate end-to-end processes for accepting and clearing checks.
Except for the historical information contained herein, the matters set forth in this press release, including, but not limited to, the extensiveness of the operational expense and bank costs savings to be realized by BOC, the magnitude of the positive impact the alliance will have on the operations of UDW and its future growth, the expectation of the partner's transaction volumes for this year and the alliance's ability to boost the partner's total transactional volume are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including, but not limited to, the Company's position in the marketplace, our ability to develop and timely introduce products that address market demand, the impact of alternative technological advances and competitive products, market fluctuations and other risks detailed from time to time in the SEC reports of US Dataworks, including its annual report on Form 10-K for the period ended March 31, 2005 and its quarterly report on Form 10-Q for the period ended December 31, 2005. These forward-looking statements speak only as of the date hereof. US Dataworks disclaims any obligation to update these forward-looking statements. |
