MyECheck Completes Acquisition of GreenPay
August 22 2014 - 9:00AM
eTeligis
FOLSOM, CA(eTeligis Inc.)
FOLSOM, CA, United States, via ETELIGIS INC., 08/22/2014 - -
MyECheck, Inc. (OTC Pink: MYEC) (PINKSHEETS: MYEC), the leader in
electronic checks for online and mobile payments, today announced
that it has completed the acquisition of its licensee, GreenPay
LLC. GreenPay LLC is now a wholly owned subsidiary of MyECheck,
Inc.
MyECheck announced on February 26, 2014 that GreenPay had
entered into a licensing agreement with MyECheck for a secure
mobile payment solution for the legal marijuana industry. On June
13 MyECheck reported its intent to acquire GreenPay, owner of the
mj-pay mobile payment app.
The mj-pay system enables secure real time electronic funds
transfers at marijuana retail locations, and provides regulatory
compliance with FinCEN guidelines for banks.
GreenPay assets are owned by MyECheck, however GreenPay will be
operated as a separate entity with an independent board of
directors and management. Future licenses sold for the marijuana
industry will be sold and licensed by GreenPay, and existing
licensees are being transferred to GreenPay.
Shareholders will vote on proposals regarding the future
disposition of GreenPay at the MyECheck Annual General Meeting on
Oct 11, 2014.
About MyECheck: ?MyECheck Inc. is a leading
electronic payment technology developer and payment services
provider. MyECheck operates under license to US Patent 7,389,913,
"Method and Apparatus for Online Check Processing" granted June
2008. The new patented 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: ?
MyECheck, Inc.
Investor Relations: ir@myecheck.com?
Sales:
Nate Wigle: sales@myecheck.com
SOURCE: MyECheck ,
Inc.