Online Resources Buys Credit Card ASP Incurrent Solutions

McLEAN, Va. – Online banking and payment specialist Online Resources Corp. is set to buy Incurrent Solutions Inc., an ASP provider of online services to credit card issuers and their end users, for $15 million in cash and stock. Online Resources, which trades on the Nasdaq as ORCC, provides Internet banking, bill pay and relationship marketing services to more than 700 credit unions, banks and other financial institutions. Incurrent Solutions, which recently was recognized by Forbes magazine as one of the 25 fastest-growing privately held technology companies in the country, provides Web-based card-member services to clients that include Fiserv, Certegy, MBNA, Target and National City Bank. “Incurrent is effectively Internet banking to credit card issuers, just as we are to depository banks and credit unions. Understanding this market, we believe there is an excellent opportunity to tightly integrate our payments and marketing,” said Matt Lawlor, Online Resources chairman and CEO. “Online Resources’ exceptional payments and relationship marketing capabilities, its strong financial standing, and our similar cultures and ASP business models make for an excellent business combination,” said David Hickey, CEO of Parsippany, N.J.-based Incurrent Solutions.