EL DORADO HILLS, Calif.,
April 24, 2013 /PRNewswire/
-- MyECheck, Inc. (OTC PK: MYEC), a provider of transaction
data processing services, announced today that it will license its
proprietary system to other operators for a share of their
transaction revenue on the system.
MyECheck is the sole licensee of US Patent No. 7,389,913.
"Method and apparatus for online check processing", and has patent
sub-licensing rights that it now intends to exploit.
Additionally, MyECheck has developed and operates the worlds first
and most robust electronic check engine, replications of which are
now being licensed to other companies.
Ed Starrs, CEO of MyECheck
commented, "Our new licensing model will enable far greater and
faster uptake of the technology controlled by MyECheck, and add new
large revenue streams. In addition to our processing revenue,
we will have licensing revenue that will exceed our processing
revenue in a relatively short period of time."
The MyECheck service provides the most viable alternative
payment option at substantially lower rates than card processing
fees. MyECheck works with every US checking account, even
accounts that Automated Clearing House (ACH) e-check solutions
cannot debit, enabling payments from a larger customer base, and
providing faster clearing of payments with less risk.
About MyECheck
MyECheck Inc. is a leading electronic
transaction data processor and that provides an alternative payment
solution to paper checks, cards or ACH payments. MyECheck utilizes
a patented method of clearing check data for exceedingly fast,
secure and cost effective payments. As the leader in Check 21
solutions and check image processing for online and mobile
transaction, MyECheck provides merchants with financial access to
more customers and faster funds clearing than any other payment
method.
Please visit www.myecheck.com
Contact:
Ed Starrs
Investor Relations: ir@myecheck.com
Sales: info@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.
SOURCE MyECheck, Inc.