EL DORADO HILLS, CA--(MARKET WIRE)--Dec 3, 2008 -- MyECheck Inc. (OTC BB:MYEC.OB - News), an electronic transaction processor and provider of alternative payment solutions, announced today that it has launched Forever Living Products (FLP) as a client and is providing the multi-level marketing distribution company with its comprehensive suite of electronic check processing services.
FLP customers may now use their checking accounts as an additional form of online payment. MyECheck's patent pending software can debit every U.S. checking account, even accounts that ACH cannot debit; thus providing online merchants financial access to more consumers and businesses than any other payment method.
With sales topping $2 billion, FLP is a Scottsdale, Arizona-based multi-level marketing-distribution company with over 9 million distributors. The company does business in over 120 countries and is the world's largest grower, manufacturer and distributor of Aloe Vera-based products. Please visit www.foreverliving.com for more information.
MyECheck provides access to more U.S. consumers than any other payment method because it can be used to clear checks from 100% of U.S. checking accounts, including business accounts and accounts where ACH does not work. MyECheck facilitates faster funds clearing than cards or ACH, providing same day or next day availability of funds to the merchant's bank.
MyECheck also offers fraud control tools including bank account verification, negative check-writer database queries and payment guarantee at lower rates. Because MyECheck does not use the ACH network, transactions are not subject to National Automated Clearing House Association ("NACHA") regulation, including their rules, fees and fines.
MyECheck RCCs are governed by Uniform Commercial Code (State check laws), and Check 21 law, which is more favorable to the Payee than NACHA rules and facilitates higher returned item collection rates. The lower number of returns and higher return collection rates translate to fewer losses, lower fees for payment guarantee and higher profit margins for MyECheck Merchants.
About MyECheck
MyECheck Inc. is a leading electronic transaction processor and provider of alternative payment solutions to credit cards for brick & mortar, internet, and mobile commerce. MyECheck utilizes a patented method of creating and clearing remotely created checks (RCCs) for exceedingly fast, secure and cost effective payments. As the leader in Check 21 solutions and check image processing for online merchants, MyECheck provides merchants with financial access to more customers than any other payment method.
Please visit www.myecheck.com.
Forward-looking statements in this release are made pursuant to the "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 Securities and Exchange Commission.
MyECheck Contact:
Patrick Lowry
916.932.0089
Email Contact
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