$MYEC MyECheck Completes Acquisition of GreenPay
Aug 22, 2014(MYEC), the leader in electronic checks for online and mobile payments, today announced that it has completed the acquisition of its licensee, GreenPay LLC. GreenPay LLC is now a wholly owned subsidiary of MyECheck, Inc.
MyECheck announced on February 26, 2014 that GreenPay had entered into a licensing agreement with MyECheck for a secure mobile payment solution for the legal marijuana industry. On June 13 MyECheck reported its intent to acquire GreenPay, owner of the mj-pay mobile payment app.
The mj-pay system enables secure real time electronic funds transfers at marijuana retail locations, and provides regulatory compliance with FinCEN guidelines for banks.
