MyECheck Electronic Transaction Processing News

Newsletter Date: Q2 2009

In this time of credit cards decline rates being at their highest, it is important for etailers to remember that the check is still the largest non-cash payment method in the United States. 

This morning we learned that Advanta Corp., the credit-card issuer for small businesses, may leave one million customers scrounging to find new lenders and debt holders facing losses of 35 percent after the company shut down accounts to preserve capital. 

Oppenheimer and Co. predicts issuers will reduce credit card lines by $2.1 trillion in the next 18 months wiping out 45% of spending power US consumers now have on credit cards.

What does this mean to you? 

Many online merchants offer no alternative to credit, resulting in lost sales due to many consumers' inability or unwillingness to purchase using credit.

Here’s our solution:

MyECheck works with more consumers than any other payment method and will lower costs, abandonment, charge-backs and fraud while increasing sales, loyalty and profits for its customers. And we offer our services at a fraction of the cost of credit-card processors, do not charge any recurring or account maintenance fees nor do we require any deposits or rolling reserves.  Please call us at (916) 939-3241 or sales@myecheck.com for a demo today.

Of note to our shareholders, we were pleased to announce our Year End 2008 financial results recording an increase of revenues of over 1000% compared to the previous year.  And we processed over $90 million for the twelve months ending December 31, 2008 while continuing a growth of about of 41% every quarter.

The company is working hard for both its customers and stakeholders in this time of uncertainty in the markets.  We know times are tough, and we are here with a solution to save you money.

Edward Starrs – CEO, MyECheck Inc.

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.