EL DORADO HILLS, CA, and LAGOS, NIGERIA--(Marketwired - Oct 19, 2016) - MEC, Inc. (OTC PINK: MYEC), (formerly MyECheck, Inc.) announced today it has entered into agreements with pan-African financial services group, United Bank for Africa ("UBA") Plc to provide a revolutionary email-based billing, payment and banking software system called "EmailMoni."
EmailMoni represents the world's latest fin-tech for cloud banking and social payments, and is expected to transform the payments, invoicing/billing and remittances landscape in Africa. The service provides a convenient and highly accessible application with multiple ways to transact that are instant, secure, and low cost.
EmailMoni enables people and businesses to securely send and receive invoices and money electronically in real-time, using their mobile phone or any web browser compatible device. Users can send and request and receive money using the mobile phone app, Microsoft Outlook app, or any email service. Money can also be securely requested and/or sent using Facebook app, SMS text and other methods.
EmailMoni Apple iOS App and Android App can also interact with point of sale (POS) systems, e-commerce for quick and secured payments online, as well as card-less ATMs using Quick Response ("QR") Codes enabling withdraws from the system at thousands of ATM locations.
EmailMoni will enable faster more efficient payments for UBA customers who are billers, such as airtime, cable and utility companies. Customers can also send and receive secure payments instantly and conveniently, while non-bank customers will be able easily access UBA banking and payment services.
"We are proud to open any frontier for e-payments in Africa with EmailMoni. This conforms with our desire to continuously deliver innovative and convenient payment options to our customers. Our innovations in the digital banking space have been possible because of our huge investments in building efficient, trustworthy platforms. We assure our customers that we are committed to continually bring the best in the financial technology space to ensure they always have the best and most convenient banking experience with all our service channels," said Yinka Adedeji, Divisional Head, Digital Banking, UBA.
Ed Starrs, CEO of MEC commented: "EmailMoni will be instrumental in the positive transformation of Africa to a digital banking system and enable greater access to secure commerce. EmailMoni focuses on the banks' customers making sure they can access their money anywhere and anytime. EmailMoni enables UBA's customers to communicate just like using email and pay for all their transactions in one place. MEC along with our sales partner in Africa, Centric Gateway, Nigeria, Limited, are committed to providing industry leading technology and service to support UBA in meeting their e-payment goals."
"EmailMoni, powered by MEC, will be a fundamental change in the payment space in Africa," stated Omoniyi Kolade, CEO of Centric Gateway. "The email-based payment platform will enable our client UBA to deliver fundamental value in promoting cashless and digital banking for their customers in their day to day transactions. EmailMoni will remove hurdles being faced by customer transactions and maintain speed, ease of use, along with security in between customer, retailers, businesses, biller, e-commerce, etc. This is the first solution in the Nigeria payment service industry that addresses customer payment affairs in a seamless way."
About UBA: With a customer base in excess of eight million, UBA has invested heavily in building robust and secure digital banking platforms to facilitate transactions across Africa. A highly diversified financial services provider, UBA is a leading player on the African continent, with significant market share and operations in 19 different African countries and business offices in New York, Paris and London. Visit: www.ubagraoup.com
About Centric Gateway: Located in Lagos, Nigeria, Centric Gateway Limited is a payment services provider and the Authorized Sales Partner in Africa for MyECheck software and services.
About MEC, Inc.: MEC, Incorporated (formerly MyECheck, Inc.) is a developer, licensor and services provider of innovative payment and banking solutions. MEC software applications include virtual/cloud banking, mobile payments apps, web commerce, POS, billing/invoicing, card-less ATM, international remittances and advanced security and fraud control technologies. Visit: www.mecincorp.com
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.