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| [May 22, 2008] |
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MyECheck Inc. Signs ConsumerDirect(R) to its Online Check Service
SACRAMENTO, Calif. --(Business Wire)-- 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, announced that is has signed ConsumerDirect(R) as a client and will be providing its comprehensive suite of electronic check processing services.
Up to 50% of adults either have no credit card or have no available credit on their cards, meaning that as many as 80 million U.S. adults have no ability to buy online at the many websites that only accept credit cards. This agreement allows ConsumerDirect(R) customers to use their checking accounts as an additional form of online payment.
MyECheck provides faster clearing and funds availability, substantially reduces charge-backs and risk and improves cash-flow; all at a much lower cost than credit or debit cards. eChecks processed on the MyECheck system are typically accepted in 1 to 3 seconds with check approval rates averaging over 90%, with many merchants exceeding over 95%.
ConsumerDirect(R) is linked to over 95% of Creditors in the United States giving its clients a faster and more effective way to fix credit report problems. Please visit https://www.consumerdirect.com/.
About MyECheck
MyECheck Inc. is a leading provider of comprehensive viable alternative payment solutions to credit cards for brick & mortar, internet, intranet and mobile 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 patent pending RCC solution provides merchants with financial access to more consumers than any other single 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.
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