SOURCE: Electracash

ElectraCash

February 19, 2009 10:14 ET

ElectraCash Unveils All New SignatureSafe E-Check Service

SIGNAL HILL, CA--(Marketwire - February 19, 2009) - ElectraCash, Inc. (www.electracash.com), a leading provider of Internet payment processing services, announced today an innovative new tool which allows end-users e-check service to sign and verify their online transactions by using their standard computer mouse.

This provides for a unique signature "print" called "SignatureSafe" that enhances both level securities for the consumer and merchants. SignatureSafe will be available across all of our payment types, but will be required for our Check21 service which allows the consumer to produce a signed paper check which ElectraCash then turns into a substitute check using a digital image of the original. As a result, ElectraCash now allows merchants to accept all types of checks with fast, guaranteed fund availability.

"This new image exchange capability brings a new level of authorization and fraud protection technology that is crucial for financial services companies as online commerce continues to evolve," said Lee Falls, CEO of ElectraCash. "New laws clearly defining the requirements of electronic payments will usher in a new era of data security and encourage a spike in new products, including online access to check images, as banks move to eliminate paper and endeavor to become more cost-effective financial institutions."

Already, forty-five percent of checks deposited with the Federal Reserve are in an Image Cash Letter (ICL) format and the numbers are growing. We urge you to join this technological advancement by transitioning your check transactions to a Check21 enabled presentment system.

Innovative Financial institutions are embracing this new process and technology as a means of attracting new customers, increasing deposits, increasing fee income and maintaining market share. ElectraCash has partnered with several additional banks in preparing for what we believe will be a new and exciting era in processing merchant payments.

For a live demo of these exciting new ElectraCash e-check services, please visit www.ElectraCash.com/Check21 or contact via email sales@electracash.com.

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