EL DORADO HILLS, CA -- (Marketwire) -- 03/03/09 -- MyECheck Inc. (OTCBB: MYEC), an electronic transaction processor and provider of alternative payment solutions, is pleased to provide its shareholders with an update as to ongoing operations so far this year
- MyECheck sales efforts have been focused on larger accounts involving longer sales cycles with the company reporting that it has multiple major accounts in its sales pipeline.
- As part of this increased effort, MyECheck has added additional sales resources including Director of Business Development, Joe Benguerel, and National Sales Manager, Mark Hasik.
- A number of smaller clients and merchants have been signed and are now in the process of being integrated.
- MyECheck has been developing and has now completed a sophisticated transaction auditing software utility. Although MyECheck developed the new software service specifically for use by a major government account, it can be used by all MyECheck merchants to enhance the security of their reporting.
- MyECheck has also completed integration with two new major banks, with another major bank in the integration process. The new bank relationships will enable certain merchants that have an existing relationship at those banks to use MyECheck services without opening a merchant account at a new bank.
- In today's economy, speed of collection is one of the most important features in the cycle of billing. So, the Company is also focusing on mortgage companies, insurance companies, credit card companies and many others who are using Remote Check Capturing to collect recurring payments from their customers.
Trillions of dollars are processed as checks annually and MyECheck allows companies like these to fully automate, eliminate paper from their process, and speed collection by at least 2 days.
Ed Starrs, CEO of MyECheck, commented, "The Company continues to sign on new clients in the current economic climate as ecommerce businesses strive to find new ways to reduce their overhead, while increasing their sales. 2009 is the year that we find ourselves working diligently to build MyECheck into a electronic transaction processor by presenting these same companies with cost-cutting payment processing services."
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. |
