SACRAMENTO, CA--(Marketwire - May 20, 2008) - MyECheck Inc. (OTCBB: MYEC), a leading provider of comprehensive viable alternative payment solutions to credit cards for internet, intranet, mobile commerce and brick & mortar platforms, is pleased to announce that it has signed an agreement with Checkgateway, a leading provider of electronic payment services.
Checkgateway will be a gateway partner of MyECheck, which is providing the online processor with its comprehensive suite of electronic check processing services.
Checkgateway's merchant clients will be able to process Remotely Created Check transactions through the MyECheck payment engine. MyECheck uses patent pending technology to generate electronic checks in accordance with the Check Clearing for the 21st Century Act (HR 5414 - "Check 21") specifications. These eChecks are transmitted in near real-time to MyECheck's partner banks, or directly to the check clearing system for faster clearing.
Checkgateway is a leader and innovator in the Automated Clearing House (ACH) payment processing industry and has been an ACH service bureau since 1993. Checkgateway is also an affiliate member of the National Automated Clearing House Association (NACHA), an organization charged with making operational rules for the ACH network. For more information please visit www.checkgateway.com.
Ed Starrs, CEO of MyECheck, commented, "The Federal Reserve's 2007 study on noncash payments, released December 10, 2007, revealed that electronic payments now exceed two-thirds of all noncash payments. The highest rate of growth from 2003 to 2006, the period covered by the study, was in eCheck payments. Our Check 21 solution satisfies the growing need for eCommerce payment solutions, and we look to further promote continued growth with our partners."
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. |
