El Dorado Hills, CA, --(Marketwire - November 17, 2008) - MyECheck Inc. (OTCBB: MYEC), an electronic transaction processor and provider of alternative payment solutions, is pleased to announce that it has signed the California State Teachers’ Retirement Fund (CalSTRS) as a customer to their Check 21 patented software.
CalSTRS primary responsibility is to provide retirement related benefits and services to teachers in public schools and community colleges. It administers retirement, disability and survivor benefits for California's 813,000 public school educators and their families from the state's 1,400 school districts, county offices of education and community college districts.
CalSTRS is the largest U.S. teachers' retirement fund and the second largest U.S. public pension fund with a membership of 795,000 and assets of $147 billion as of September 30, 2008. See www.Calstrs.com for more information.
Edward Starrs, CEO of MyECheck, stated, “We are excited to have this high profile client added to our growing roster of clients. Electronic checks have the most potential to meet current and future needs of the electronic payments industry. With the advent of MyECheck, a payment system now exists that is more efficient at a very low cost, especially when compared to card processing rates and charges, clears payments faster, is more universally available to consumers and businesses and provides a more fair and equitable e-commerce transaction platform.”
MyECheck’s Check 21 solution offers the fastest, safest and most cost effective way to process electronic payments from an expanding customer base, and is experiencing rapid growth in the growing eCommerce and Payments industries.
MyECheck utilizes a proprietary, patented method of creating and clearing remotely created checks (RCCs) for exceedingly fast, secure and convenient payments. Since inception in 2004, MyECheck has continued to enhance its offerings and launch new services including Remote Deposit Capture and POS solutions.
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. |
