SOURCE: MyECheck Inc.

May 16, 2007 13:00 ET

MyECheck Inc. Launches Remote Deposit Capture Services

MyECheck's RDC Solution Enables Companies to Clear Imaged Checks Through the Fed

SACRAMENTO, CA -- (MARKET WIRE) -- May 16, 2007 -- MyECheck Inc., a leading provider of comprehensive Check 21 imaging, processing and related solutions, today announced that the company has successfully launched remote deposit capture services for corporate back office check scanning and Fed image clearing.

The new service enables merchants to scan checks at the point of sale or back office and remit properly formatted image files directly to the Fed for immediate clearing to their bank account. The service bypasses the bank of first deposit on the forward process so that the checks clear the same day or overnight.

MyECheck delivers robust, high-quality and cost-effective imaging services that are "plug & play" for businesses of all types and sizes. MyECheck's RDC solutions deliver unparalleled scanning accuracy and sophisticated file repair and adjustment features providing the industry's highest capture rates and cost reductions. The systems interface with back-end accounting systems with little or no customization costs.

MyECheck has certified a number of leading check scanners for use with its solutions. MyECheck is certified by the Federal Reserve and uses FedLine to transmit ANSI X9.37 files containing check images and related data to the Fed for immediate clearing.

About MyECheck

MyECheck, Inc. is a provider of real-time online check processing for merchants that utilizes a patent-pending method of creating and clearing remotely created checks (RCCs), providing an Internet gateway to Check 21 processing. MyECheck is the best new technology for merchant processing that bypasses ACH (Automated Clearing House) issues by allowing merchants' access to more consumers, faster funds availability at lower risk. MyECheck created check image files are transmitted directly to the Federal Reserve for immediate clearing to the merchant's bank account. MyECheck's full suite of check services includes image creation and clearing solutions for Internet, phone order, retail point of sale, and remote deposit capture (RDC) for back-office applications.

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