SOURCE: MyECheck, Inc.

March 28, 2014 09:05 ET

MyECheck Announces Three New Licensees of Its Real-Time Mobile Payment Platform

InterPay, Sierra Global and Itonis to Receive Turn-Key Downloadable Mobile Payment Systems to Resell Services

EL DORADO HILLS, CA--(Marketwired - Mar 28, 2014) -  MyECheck, Inc. (OTC Pink: MYEC) (PINKSHEETS: MYEC), an electronic payment solutions provider and the leader in fully electronic check technology, today announced that it has sold 3 new licenses for its proprietary mobile payment platform. Each company has paid an upfront licensing fee and will receive a private branded turn-key hosted mobile payment system connected to the MyECheck check engine. MyECheck will also share in transaction fee revenue generated from the systems.

InterPay Inc, founded in 2009, is a reseller of electronic payment services to national and regional foodservice, grocery and C-store chains. Sierra Global LLC is a provider of custom banking software solutions to non-US banks to enable US commerce outside of the US. Itonis Holdings based in southern California is a holding company and distributor of innovative products to the medical and pharmaceutical industry. Itonis will be the first and only payment services with a solution targeting the Medical Marijuana industry in Southern California.

Ed Starrs, MyECheck CEO, stated, "We thank InterPay, Sierra Global and Itonis for selecting MyECheck for their partner in mobile payments. These licensees will receive the industry's most capable mobile payment system, and our unmatched almost 10 years of experience with Check 21 based electronic bank transfers."

"As some of the first licensees to receive our new mobile payment system this May, these payment service providers will have a strong competitive advantage in the secure mobile payments industry," Starrs added, "and will distribute of our service to some strategically important industries."

The mobile payment systems will consist of themed downloadable User apps with unique enhanced security features, and downloadable Merchant Point of Sale applications that install and run on Intuit Quickbooks. The system works on standard computers and smartphones, there are no special hardware requirements or connections, and anyone who can download can use the payment system.

Users can transfer funds to any other User on the system in real-time, or to a Merchant Point of Sale application. 

Optional features for each User will include a Virtual Bank Account that can be funded on the fly from any checking account for free, or by cash at one of our partner loading stations.

The system can also issue foreign debit cards outside of the US for instant global funds transfers and cash out from ATMs world-wide.

About MyECheck
MyECheck Inc. is a leading electronic payment technology developer providing a new electronic payment method that is replacing cash, paper checks, credit & debit cards, and ACH "e-check" payments. MyECheck operates under license to US Patent 7,389,913, "Method and Apparatus for Online Check Processing" granted June 2008. The patented new fully electronic real-time 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.

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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.

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