|Date:||March 26, 2008|
|Place:||San Diego, California|
|Contact:||Lin Fellerman - CEO / President - Secure Payment Systems|
|Phone:||(858) 549-9001 x302|
|MyECheck Partners with Secure Payment Systems for Check Authorization and Guarantee Service|
Partnership provides guaranteed payment to merchants on MyECheck transactions at rates lower than non-guaranteed card processing rates.
Sacramento, CA, March 26, 2008// MyECheck Inc. (MYEC: NASD OTC BB), a leading provider of comprehensive viable alternative payment solutions announced that it has partnered with San Diego based Secure Payment Systems (“SPS”) for check authorization and check guarantee services. The combined MyECheck SPS solution enables MyECheck merchants to ship the same day with confidence that they will be paid, even if their customer’s check bounces.
Check authorization is offered with or without check guarantee. In less than one second, Secure Payment Systems authorizes checks from its database of millions of records, accessing both local and national negative files of unpaid checks, along with other proprietary verification inputs. Secure Payment Systems profiles the transaction using proprietary shopping pattern algorithms and continuously updates this database with check writing histories. The database also incorporates a positive file of good check writers, so MyECheck merchants don’t lose sales due to customer high check writing activity. With the guarantee service the authorized checks that bounce are reimbursed to MyECheck merchants in full within 14 days.
Ed Starrs, CEO of MyECheck commented, “We are very pleased to have partnered with an industry leader with a proven track record in the check services industry. SPS’s eleven year history as a reliable check authorization and guarantee provider delivers a high degree of confidence to MyECheck’s guaranteed payment merchants that once a check has been authorized, payment is in fact guaranteed.”
About Secure Payment Systems, Inc
Secure Payment Systems, Inc. (SPS) is a national leader of value added payment and transaction processing services, founded in 1996 by its President Linden (Lin) Fellerman who is nationally recognized as one of the leading check services risk management experts. As former 10 year President and 20 year employee of Telecredit Service Corp and then Equifax Check Services, he helped develop many of the proprietary algorithms used nationwide today. SPS directly provides a broad range of financial services including but not limited to POS and web-based check authorization and guarantee services, pos based check21 image transfer solutions, electronic funds transfers, as well as U.S. and Canadian gift and rewards card processing. For more information please visit www.securepaymentsystems.com
MyECheck Inc. is a leading provider of viable alternative payment solutions to credit cards for brick and mortar, internet and mobile commerce. MyECheck utilizes a proprietary method of creating and clearing remotely created checks (RCCs) for exceedingly fast, secure and convenient payments. MyECheck's patent pending RCC solution provides online merchants with financial access to more consumers than any other payment method. As a leader in Check 21 solutions and check image processing for online merchants, MyECheck offers the fastest, safest and most cost effective way to collect payments from customers. 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 periodic reports filed with the Securities and Exchange Commission.