US Dataworks, Inc. and Online Resources Form Alliance for End-to-End Electronic Payment Processing Solution
20 June 2006 - 11:30PM
PR Newswire (US)
HOUSTON, June 20 /PRNewswire-FirstCall/ -- US Dataworks, Inc.
(AMEX:UDW), a leading developer of payment processing solutions,
announced that it has formed a strategic alliance with Online
Resources Corporation (NASDAQ:ORCC), 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: http://www.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. CONTACTS: John Figone, Donald C.
Weinberger/ SVP of Business Development Alisa Steinberg (media) US
Dataworks, Inc. Wolfe Axelrod Weinberger Assoc. LLC (713) 934-3855
Tel. (212) 370-4500 Fax (212) 370-4505 DATASOURCE: US Dataworks,
Inc. CONTACT: John Figone, SVP of Business Development of US
Dataworks, Inc., +1-713-934-3855; or media, Donald C. Weinberger or
Alisa Steinberg, both of Wolfe Axelrod Weinberger Assoc. LLC,
+1-212-370-4500, or fax, +1-212-370-4505, for US Dataworks, Inc.
Web site: http://www.usdataworks.com/ http://www.orcc.com/
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