CHANTILLY, Va. — Online Resources Corp. is adding to its payments network with the acquisition of Internet Transaction Solutions Inc. (ITS) of Columbus, Ohio.
ITS is a billing service provider specializing in Web-based collections and debit services for receivables management companies and utilities, and processes more than 5 million payments a year for more than 150 clients, the companies say.
The $45 million acquisition extends the commitment Online Resources made to the billing service space when it bought Princeton eCom last year, the company says.
Recommended For You
"It would be hard to find a better match for our eCommerce division "As the pre-eminent billpay provider to the consumer accounts receivable industry, ITS provides a complementary distribution channel for our collections and PIN-less debit capabilities," says Online Resources Chairman/CEO Matt Lawlor.
The ITS client base includes 12 of the top 20 consumer receivables management companies and four major blue-chip utilities and will become part of Online Resources' bank and biller payment origination and settlement network.
Chantilly-based Online Resources says it expects ITS to add approximately $7 million income to its full-year 2007 results.
The online financial services provider (www.onlineresources.com) says it now processes $100 billion in bill payments annually and has 2,700 financial institution clients and more than 10 million end users.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
