CHEYENNE, Wyo., Sept. 25, 2014
/PRNewswire/ -- GreenPay LLC, a mobile payments provider to
the legal marijuana industry and a wholly owned subsidiary of
MyECheck, Inc. (OTC PK: MYEC), the leading innovator and licensor
of electronic check systems for mobile payments, announced today
that it has signed a license agreement with MJ Safe Pay, a new
Nevada company established to
capitalize on the emerging legal marijuana industry in
Nevada. Under the terms of the new agreement, GreenPay will
deliver to MJ Safe Pay a custom branded mobile payment app system
in exchange for a fee per transaction processed on the system.
The MJ Safe Pay app will enable mobile electronic bank payments
at authorized retail marijuana dispensaries within the state of
Nevada. MJ Safe Pay will be
the first fully electronic payment service in Nevada specifically designed to resolve the
unique payment problems in the cannabis industry.
MJ Safe Pay already has an agreement to provide the app service
to one the first and few state licensed dispensaries, and they plan
to sell payment services to the other dispensaries within
Nevada.
In other news, GreenPay has partnered with a payment services
provider currently providing payment and banking services to the
industry, with banking partners in five states that are currently
accepting marijuana related cash. The partnership will help
facilitate the rapid distribution of MJ Safe Pay services, and
other GreenPay licensees' services in Nevada, Colorado, Washington, California and other states.
About GreenPay: GreenPay LLC specializes in
building applications to enable secure, real time electronic funds
transfers at marijuana retail locations. We help legal,
state-licensed retailers receive payments electronically, removing
the restrictions inherent in an all-cash business. The MJ-Pay app
will enable retailers to accept electronic payments and to
electronically transfer their revenue into bank accounts.
GreenPay operates under license to US Patent 7,389,913, Method an
Apparatus for Online Check Processing, and was acquired by
MyECheck, Inc. in August of 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.
This 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 solutions 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.
For more
information contact:
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Nate
Wigle
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Bill
Delgado
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VP, Business
Development
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Investor
Relations
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nate.wigle@myecheck.com
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bill.delgado@myecheck.com
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MyECheck,
Inc.
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2600 E. Bidwell
Street #140
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Folsom, CA
95630
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844.693.2432
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www.myecheck.com
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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 GreenPay LLC