##### 



Exhibit 31.2

CERTIFICATIONS

I, Catherine A. Graham, certify that:



| |                                                                                                                                                                                                                                                                                                                                                        
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | 1.     I have reviewed
    this annual report on Form 10-K of Online Resources
    Corporation;                                                                                                                                                                                                                                                        
|
| | 2.     Based on my
    knowledge, this annual report does not contain any untrue
    statement of a material fact or omit to state a material fact
    necessary to make the statements made, in light of the
    circumstances under which such statements were made, not
    misleading with respect to the period covered by this annual
    report;
|
| | 3.     Based on my
    knowledge, the financial statements, and other financial
    information included in this annual report, fairly presents in
    all material respects the financial condition, results of
    operations and cash flows of the registrant as of, and for, the
    periods presented in this annual report;                      
|
| | 4. The registrants other certifying
    officer and I are responsible for establishing and maintaining
    disclosure controls and procedures (as defined in Exchange Act
    Rules 13a-15(e) and 15d-15(e)) for the registrant and have:                                                                                                             



| |                                                                                                                                                                                                                                                                                                                                                                                                                 
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | a. Designed such disclosure controls and
    procedures, or caused such disclosure controls and procedures to
    be designed under our supervision, to ensure that material
    information relating to the registrant, including its
    consolidated subsidiaries, is made known to us by others within
    those entities, particularly during the period in which this
    annual report is being prepared;
|
| | b. Evaluated the effectiveness of the
    registrants disclosure controls and procedures and
    presented in this report our conclusions about the effectiveness
    of the disclosure controls and procedures, as of the end of the
    period covered by this report based on such evaluation: and                                                                                                          
|
| | c. Disclosed in this report any change in
    the registrants internal control over financial reporting
    that occurred during the registrants most recent fiscal
    quarter that has materially affected or is reasonably likely to
    materially affect the registrants internal control over
    financial reporting; and                                                                             



| |                                                                                                                                                                                                                                                                                                                       
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | 5.     The
    registrants other certifying officer and I have disclosed,
    based on our most recent evaluation of internal control over
    financial reporting, to the registrants auditors and the
    audit committee of registrants board of directors (or
    persons performing the equivalent functions):



| |                                                                                                                                                                                                                                                                                              
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | a. All significant deficiencies and material
    weaknesses in the design or operation of internal controls over
    financial reporting which are reasonably likely to adversely
    affect the registrants ability to record, process,
    summarize and report financial information; and
|
| | b. Any fraud, whether or not material, that
    involves management or other employees who have a significant
    role in the registrants internal controls over financial
    reporting.                                                                                                   



| |     |                     
| | --- | --------------------
| | By: | /s/ CATHERINE GRAHAM

| |                            
| | ---------------------------
| |                            
| | Name:   Catherine A. Graham

| |        |                              
| | ------ | -----------------------------
| | Title: | Executive Vice President, and

| |                              
| | -----------------------------
| | Chief Financial Officer      
| | (Principal Financial Officer)

Date: March 12, 2004