SACRAMENTO, CA -- (MARKET WIRE) -- May 14, 2007 -- MyECheck Inc., a leading provider of comprehensive Check 21 imaging, processing and related solutions, today announced that the Federal Reserve has granted MyECheck a FedLine Account.
FedLine is a stand alone, PC-based hardware and software package providing financial institutions access to accounting, Automated Clearinghouse (ACH), book-entry securities, cash, check, treasury services, and Fedwire funds transfer applications. These applications allow for the creation and transmission of payment messages, account balance monitoring, and other functions performed via encrypted dial-up sessions with the Federal Reserve Bank's host computer.
MyECheck was recently certified by the Federal Reserve and has used its FedLine account to successfully transmit ANSI X9.37 files to the Fed for immediate clearing.
About MyECheck
MyECheck Inc. is a leading provider of comprehensive alternative payment solutions to credit cards for brick & mortar, internet, and intranet commerce. MyECheck utilizes a proprietary method of creating and clearing remotely created checks (RCCs) for exceedingly fast, secure and convenient payments. As the leader in Check 21 solutions and check image processing for online merchants, MyECheck's patented RCC solution provides merchants with financial access to more consumers than any other single payment method, allowing the fastest, safest and most convenient way to process electronic payments from customers.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of mentioned products, increased levels of competition, new products and technological changes, dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in reports filed with the Securities and Exchange Commission. |
