(Source: MARKET WIRE)
MyECheck Inc. (OTCBB: MYEC), an electronic transaction processor and provider of alternative payment solutions, is pleased to announce that it has signed ForYourParty.com and BeforeYourParty.com as a client and is now providing the online retailer with its comprehensive suite of electronic check processing services.
This agreement allows ForYourParty.com and BeforeYourParty.com customers to use their checking accounts as an additional form of online payment. MyECheck's patented software can debit every U.S. checking account, even accounts that ACH cannot debit; thus providing online merchants financial access to more consumers and businesses than any other payment method.
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. And credit card volume share from online purchases is predicted to fall nearly 50% by 2013 according to Javelin strategy and research.
Ed Starrs, CEO, commented, "MyECheck sales efforts have been focused on larger accounts involving longer sales cycles. The company reports it has multiple major accounts in its sales pipeline and intends to continue building its assets and customer base at a steady pace."
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.
Please visit www.myecheck.com
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.
Contact: Patrick Lowry 916.932.0089 Email Contact
SOURCE: MyECheck Inc.
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