Acquisition of the online banking and full service bill pay technology provider will boost ACIW’s strategic bill pay capabilities by adding Electronic Bill Presentment and Payment (EBPP) as well as broadens online banking portfolio.
The agreement, which was originally inked in January 2013, will boost the acquirer’s abilities to serve community banking and credit union customers effectively.
ACI Worldwide president and CEO Philip Heasley said the company will now provide an integrated technology to address an entire range of payment needs including wholesale and retail, frauds, online banking, merchant retail and bill pay.
The combined operation of ACIW will have an additional customer base of 1,000 banks, credit unions, billers, credit card issuers, and other credit and payment service providers.
Wells Fargo Securities and Jones Day acted as advisors to ACIW, while Raymond James & Associates, and Morris, Manning & Martin served as advisors to Online Resources.
Connecting more than 9,000 billers, Online Resources processes over 245 million bill payment transactions annually and serves over 1,000 financial institutions and billers.
ACIW software provides $12 trillion in payments each day, processing transactions for 14 of the global retailers, and 24 banks worldwide.
