EL DORADO HILLS, CA -- (Marketwire) -- 01/13/09 -- MyECheck Inc. (OTCBB: MYEC), an electronic transaction processor and provider of alternative payment solutions, is pleased to announce that it successfully processed approximately 2.1 million transactions in 2008, its first full year of operation on its patented electronic transaction system.
Unaudited 2008 financial results indicate the company's fourth quarter revenue was approximately $235,000 on processing approximately $40 million, compared to approximately $41,000 revenue in the fourth quarter of 2007.
Quarterly revenue growth was very strong throughout 2008 ranging from 41% to 88% growth per consecutive quarter. Q4 2008 revenue compared to Q3 2008 revenue was recorded at a 44% increase.
Ed Starrs, C.E.O. of MyECheck Inc., stated: "We are pleased to have established MyECheck as a viable alternative electronic transaction processor in 2008. Our consistent large growth rates demonstrate the strong demand for our services and the capabilities of our operation."
"We expect our growth to remain strong into the foreseeable future, particularly in this credit crisis. As credit is reduced, consumers need a fast and safe way to pay online or over the phone from their checking accounts, and MyECheck offers the best solution," Starrs affirmed.
The company notes that the numbers contained in this release are unaudited, and are made in good faith and based on all the financial information available to the company today. Further, past financial business, operations and stock performance are not necessarily indicative of the company's future performance. Audited financial statements will be filed with the SEC on or before the due date of March 31, 2009.
About MyECheck
MyECheck Inc. is a leading electronic transaction processor and provider of alternative payment solutions to credit cards for brick & mortar, internet, and mobile commerce. MyECheck utilizes a patented method of creating and clearing remotely created checks (RCCs) for exceedingly fast, secure and cost effective payments. As the leader in Check 21 solutions and check image processing for online merchants, MyECheck provides merchants with financial access to more customers than any other payment method.
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. | 
