MyECheck Announces Patent Sub-Licensing and Software Licensing Deal
February 26 2014 - 6:55AM
Marketwired
MyECheck Announces Patent Sub-Licensing and Software Licensing Deal
GreenPay Mobile Payment App "MJ-Pay" Provides Solution for Legal
Marijuana Industry
EL DORADO HILLS, CA--(Marketwired - Feb 26, 2014) - MyECheck,
Inc. (OTC Pink: MYEC), an electronic payment solutions provider and
the leader in fully electronic check technology is pleased to
announce it has licensed its patented electronic payment solution
to GreenPay LLC, a start-up developer of a downloadable mobile
payment application for the legal medical and recreational
marijuana industry. MJ-Pay will plug into MyECheck 3.0 and
will offer apps for Apple and Android devices. MJ-Pay will
provide a comprehensive real time fully electronic payment and
banking solution that is safe, legal and fully compliant with
Federal laws.
MyECheck received an upfront licensing fee from GreenPay LLC and
will share in a percentage of transaction fee revenue. The
MJ-Pay app will offer the only industry specific payment solution
designed to solve the unique problems present in the legal
marijuana industry.
Matt Hanson, CEO of GreenPay, stated, "We chose MyECheck as the
back end for our app because they offer the only solution that is
bank independent, and doesn't require the use credit/debit cards or
ACH transfers. It's essentially an electronic cash transfer
system, only much more secure. We can even provide custodial
account settlement for customers who choose not to use their own
bank account to clear payment funds. MJ-Pay will deliver the
electronic cash solution the industry has been searching for; we
will be processing for customers in Colorado and elsewhere in
approximately 75 days."
Ed Starrs, CEO of MyECheck, commented, "We welcome GreenPay
to our growing list of customers and licensees. They have the
potential to make our combined solution the de-facto payment method
for that burgeoning industry. Our proprietary banking payment
and security capabilities, along their themed front end user
experience offer an unique and large opportunity for GreenPay and
MyECheck."
About GreenPay
GreenPay LLC is a green payments technology start-up, formed in
2014 by a group of developers from a wide range of backgrounds
including gaming applications and mobile payments, to capitalize on
emerging payment and banking opportunities in the legal medical and
recreational marijuana industry. GreenPay has developed the
world's first proprietary mobile payments app specifically for
transferring funds in real time, legally and safely, to marijuana
dispensaries.
Contact: Matt Hanson, CEO, GreenPay
sierragloballlc@yahoo.com
About MyECheck MyECheck Inc. is a leading payment data processor
and technology developer & licensor that provides a new
electronic payment method used as a preferred alternative to cash,
paper checks, credit & debit cards, and ACH "e-check"
payments. MyECheck's patented payment method is the fastest,
most secure and most cost effective payment method in the US and is
poised to be a significant payment platform. As the leader in Check
21 solutions and check image processing for online and mobile
transactions, MyECheck provides merchants with the easiest,
fastest, safest, and lowest cost way to collect money
electronically from the most customers. 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 Sales:
info@myecheck.com