MyECheck Launches Application for Government-to-Government Payments, Certifies With State of California, Registers in BidSync
March 19 2014 - 12:45PM
Marketwired
MyECheck Launches Application for Government-to-Government
Payments, Certifies With State of California, Registers in BidSync
G-Pay Application Provides Industry's First and Only Fully
Electronic G2G Payment Service
EL DORADO HILLS, CA--(Marketwired - Mar 19, 2014) - 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