MyECheck, Inc. (OTC Pink: MYEC) (PINKSHEETS: MYEC), an electronic payment solutions provider and the leader in fully electronic check technology, today launched a new payment platform for real-time government account to government account payments. MyECheck G-Pay service is the only fully electronic payment service that is capable of processing fully electronic transfers from government owned bank accounts.
The G-Pay application is a plug-in to MyECheck V 3.0 and provides easily implemented security and payment capabilities for government entities to process authorized funds transfers to and from any government owned checking account. The service will be sold directly to federal, state and local government entities through internal sales, and through the use of contracted government payment service providers as resellers.
MyECheck also announced it has certified with the state of California as a qualified vendor to the state, and now is eligible to bid on California state government contracts as a certified vendor for payment services. MyECheck is now also registered in the BidSync system to bid on all eligible government contracts. The company has previously bid on and was awarded a California contract to process payment data for CalSTRS.
The MyECheck G-Pay system has been developed to facilitate an easily implemented solution for government entities to transition from paper items to real-time fully electronic payments. G-Pay works with governments existing check payment issuance and tracking systems that are designed to issue and report paper check transactions. Other system features include secure system access and transaction authorization verification, and customizable automated reporting.
Ed Starrs of MyECheck stated, "Until now, government entities had two ways to make payments, paper check or wire transfer, the vast majority of these transactions being paper checks. The new MyECheck system is the first in the nation to facilitate fully electronic real-time government account payments. The system is also the best solution for tax payments, utility payments and other business (B2G) and personal (P2G) payments."
BidSync offers purchasing and electronic procurement solutions for government agencies and businesses across North America. With the largest bid notification system in North America, suppliers and vendors are able to identify, respond to, and win bid opportunities that grow their businesses.
About MyECheck
MyECheck Inc. is a leading electronic payment technology developer providing a new electronic payment method that is replacing cash, paper checks, credit & debit cards, and ACH "e-check" payments. MyECheck operates under license to US Patent 7,389,913, "Method and Apparatus for Online Check Processing" granted June 2008. The patented new fully electronic real-time payment method is the fastest, most secure and most cost effective method of processing payments in the US, and it works with the most people, businesses and entities. MyECheck provides comprehensive payment systems for all payment applications including mobile payments and the industry's most advanced security and fraud control technologies. MyECheck customers include corporations, retailers, governments, payment processors and financial institutions.
Please visit www.myecheck.com
Forward-looking statements in this release are made pursuant to "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 SEC.
Contact:
Ed Starrs
Investor Relations
ir@myecheck.com
SOURCE: MyECheck, Inc.
Associated Documentation:
Link to submission on http://www.eteligis.com
MYEC_3-19-14_SMU_ETL.docx
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