CHANTILLY, Va. — Online Resources Corp. is rolling out an expedited payments service that allows credit unions and other financial services providers to offer consumers online bill payments that are posted by billers on the same day they're paid.
The service provides end-users expedited payments and providers the ability to generate fee income from the growing market for last-minute payments, the company says.
Global Credit Union (www.globalcu.org) in Spokane, Wash. is a pilot user of the service.
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"This is a cost-effective service that makes our Internet channel even more valuable to our members, particularly those who are active military, many of whom are overseas," says David Cummings, the $330 million CU's vice president and CIO.
"This value-added service is a first step toward end-to-end real-time payments, and a direct result of linking our unique payments gateway to our recently acquired biller network," says Stephanie Chaufournier, executive vice president and general manager of Banking Payments Services for Online Resources (www.onlineresources.com).
About 200 billers are currently online, with several hundred more expected by the time the product sees a broader launch in the fourth quarter of this year, the company says.
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