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Seems like the more you look into MYEC and ED the more impressed you get. MYEC is truly a rare find.
Ed must be a stand up guy because Cardinal Commerce has been doing business with ED since 2008 they watched him fall and get back on his feet and continues the relationship to this day. You don't get that kind of Client if your some shim sham company or a CEO who lacks integrity.
http://www.cardinalcommerce.com/pr/main_news_pr_04.16.08.htm
Cleveland, OH and Sacramento, CA (PRWEB) April 16, 2008 - ECommerce businesses using the leading .asp net shopping cart platform AspDotNetStorefront can now enable MyECheck's leading Check 21 solutions through the partnership of CardinalCommerce Corporation, a leading provider of payment brands worldwide.
The nearly 10,000 merchants running the leading Microsoft asp.net based shopping cart platform of AspDotNetStorefront will have access to the most comprehensive suite of electronic check processing services in the industry through a partnership with MyECheck (Nasdaq: MYEC NASD OTCBB) and CardinalCommerce.
MyECheck provides faster clearing and funds availability, substantially reduces chargebacks and risk, and improves cashflow; all at a much lower cost than credit or debit cards. MyECheck can debit every US checking account, even accounts that ACH cannot, thus providing online merchants financial access to more consumers and businesses than any other payment method.
AspDotNetStorefront is the first shopping cart platform to offer this technology, along with MyECheck's guaranteed payment solution, to its merchant base.
"We are very pleased to be working in partnership now with MyECheck and expanding our existing relationship with CardinalCommerce," said Robert Anderson, AspDotNetStorefront President. "AspDotNetStorefront provides our customers the most robust eCommerce feature set for the price, and the addition of MyECheck provides yet another feature designed to increase website conversion, and generate more revenue and profits for our customers. We consider many factors besides just 'using the latest technology' when deciding which features to add to the storefront, and how to make them available to store owners."
Ed Starrs, CEO of MyECheck commented, "We are very excited to have further forged our partnership with CardinalCommerce with the addition of this service. We have refined our integration process over the past months, and continue to expect to have a very quick turn-around time for CardinalCommerce's customers who have expressed interest in implementing our cost-saving solutions."
"MyECheck fills an eCommerce merchant's need for a check-like payment while maintaining a level of security that merchants both want and need," said Matt McDowell, Vice President of Merchant Services at CardinalCommerce. "MyECheck provides merchants with a fast, reliable way to accept checks online and we are happy to quickly enable this valuable service in partnership with AspDotNetStorefront."
About CardinalCommerce
CardinalCommerce Corporation is the global leader in enabling authenticated payments, secure transactions and alternative payment brands for both eCommerce and mobile commerce. Cardinal Centinel®* enables payment brands such as Verified by Visa, MasterCard® SecureCode®, PayPal™, eBillme™, Bill Me Later®, Google Wallet, MyECheck, NACHA® Secure Vault Payments (SVP), Ukash and more to a network of over 30,000 merchants and merchant service providers. Our mobile commerce platform, branded Cardinal MAX™, makes it easy for merchants to sell through mobile commerce by linking them directly with consumer mobile phones. Cardinal's proprietary and easily deployable technology provides consumers, merchants, credit/debit card issuers, and processors the ability to conduct authenticated Internet, wireless and mobile transactions safely and securely. Headquartered in Cleveland, Ohio, with facilities in the United States, Europe and Africa, Cardinal services a worldwide customer base.
About AspDotNetStorefront
AspDotNetStorefront.com, a division of Discovery Products, Inc., is a privately held company that provides online eCommerce shopping cart platforms for nearly 10,000 merchants and 5,000 developer partners. For more information, visit http://www.aspdotnetstorefront.com or call 602-490-0243 x 101.
About MyECheck
MyECheck Inc. is a leading provider of comprehensive viable alternative payment solutions to credit cards for brick & mortar, internet, intranet and mobile commerce. MyECheck utilizes a proprietary method of creating and clearing remotely created checks (RCCs) for exceedingly fast, secure and convenient payments. Since inception in 2004, MyECheck has continued to enhance its offerings and launch new services including Remote Deposit Capture and POS solutions. Today, MyECheck is a leader in Check 21 solutions offering the most comprehensive suite of electronic check processing services in the industry. Please visit http://www.MyECheck.com.
When you click on apsdotnetstorefront link and click on Cardinal Commerce Myecheck is listed:
Find out How Cardinal Commerce Works
Cardinal Commerce has developed the industry leading solution for merchants, shopping carts, gateways, acquiring banks, processors and issuing banks to make it easy to implement the payment authentication initiatives (Verified by Visa and MasterCard SecureCode) to gain the benefits of consumer authentication, lower fees, guaranteed payment and ultimately reduced fraud. At the same time, our platform provides support for all the most current alternative payment brands such as Bill Me Later, PayPal, Google Checkout, MyECheck, NetCash and Green Dot MoneyPak. Cardinal provides the only hosted solution where one, simple integration to our platform provides access to all the authentication and payment brands for ecommerce and mobile commerce.
Patent No.: US 7,051,002 B2
Yes the more big client licensees we have on our side the better the fight against patent infringement for example lets say we snagged a big fish like Apple well Apple would have the capitol to challenge anyone who infringes against Ed's Patent.
You hit it right on it's a lot of money out here we are GOLDEN!
I agree!
I don't think so they couldn't build there business because of patent infringement and calling them a troll was an excuse to push Patent Reform that is in favor of those banks that considered Data Treasury trolls. America's new inventors are being dealt a massive blow from major corporations.
The root of all this was because of Data Treasury:
http://www.washingtonpost.com/blogs/the-switch/wp/2013/12/05/the-house-votes-on-patent-reform-today-heres-what-you-need-to-know/
Taken from the comment section:
CEBohn
12/9/2013 2:34 PM EST
As a patent attorney and former large corporate salesman, I'm concern at the lack of balance in the discussion. I hear the patent-holders called the pejorative "trolls," but those using the patented technologies are not painted with the "infringer" name. "Troll" is a fishing metaphor, where a patent owner trolled the patent bait by a potential infringer to see if they will bite for a license. The act was to be non-threatening, to avoid the risk of a declaratory judgment action that only large corporations can afford. As a frequent agent of small inventors, there are few ways left to monetize one's invention. The large corporations simply use the idea, daring the small inventor to sue them, knowing the inventor can't afford it. Since a patent is a "property right," akin to a deed to a piece of land, the patent owners now sell or license the right to a "non-practicing entity," ("NPE" or a.k.a., troll) who has the financial depth to go after the potential infringers.
My point is that we have bad actors in both categories – patent-holders and infringers. To ignore the bad-actor infringers causes more harm to small businesses (formed from the single invention) than “trolls” cause to large corporations. In protecting people from trolls, we must take care to also protect our country’s small inventors, whose breakthroughs in their garages and basements made the United States the most advanced country in the world.
The banks considered Data Treasury a Patent Troll which was untrue making up the basis of this Patent Reform which is BS.
In the two years since the AIA was enacted, patent litigation has exploded. More and more firms are acquiring broad patents not to use the technology but rather to extract licensing fees from companies that infringe the patents accidentally. And these "trolls" have moved beyond targeting the conventional technology companies. Increasingly, they are suing restaurants, supermarkets, airlines, casinos, real estate agents and other brick-and-mortar businesses. So a number of industry groups that weren't traditionally involved in patent debates have begun agitating for patent reform.
http://www.washingtonpost.com/blogs/the-switch/wp/2013/12/05/the-house-votes-on-patent-reform-today-heres-what-you-need-to-know/
This is all BS but keep in mind this is a 44 trillion dollar Industry we are in so as long as Ed focuses on building the business bringing in new clients we are Golden.
This is taken from the website comment section
2/11/2014 3:31 PM EST
I got this email from the United Inventors Association":
" We applaud the desire to curb nuisance lawsuits and bad-faith demand letters by shake-down artists who claim their patents have been infringed. But the proposals now moving through Congress would go much further than that. They would gravely undermine the ability of legitimate inventors to defend their work from willful and sometimes brazen infringers – especially if they are deep-pocketed corporations.
The House-passed Innovation Act (H.R. 3309) would raise these barriers to justice even higher than they already are. Among the changes:
Alleged infringers would be able to delay proceedings for years by demanding that the Patent Office re-examine the validity of an issued patent two, three or even more times.
Judges would have to make crucial decisions about the meaning of a patent claim before the opposing sides have collected factual evidence through the discovery process.
Inventors who file lawsuits would be required to pay the other side’s attorney fees if they lose, significantly raising the stakes for those that can least afford it. "
Is their information accurate?
Remember every company that ED does business with he will not PR because of penny minded people calling those companies to verify that information.
Bring in new Clients first to build up revenue because cases as such could take quite some time to settle plus a whole lot of money fighting those cases.
Ps because of what happened to Data Treasury "Patent Reform" is on the agenda now because of greedy Banks don't want that situation to to ever happen again.
Thanks for your time Thai great article!
Thanks Mike I hope they bring this product back to the market the world needs it.
Start here I think we are in good hands:
http://www.qtsdatacenters.com/qts_difference/national_footprint_of_mega_data_centers.aspx
National Footprint of Mega Data Centers
Your data center requirements can be met by QTS in any region of the country. Customers can choose from all of our high-performance 3C products, custom data center, colocation, and cloud services, in any region of the country. Those with large footprint and power requirements as well as those seeking high-security environments also can choose from a number of the company’s data centers to achieve those objectives.
In the Atlanta market QTS offers two premier data center facilities with over 1.3 million square feet of space, both in the impressive QTS Atlanta-Suwanee Data Center in Atlanta’s growing northern suburbs as well as the QTS Atlanta-Metro data center, one of the world’s largest and most robust.
Serving a wide array of industries and locations, each with specific needs
QTS serves a wide array of customers, with a concentration of business from the financial and pharma sectors in one of the Northeast’s premier data centers, the QTS Jersey City Data Center.
Federal customers and enterprises with high-security requirements may find their best solution to be the 1.3 million square foot QTS Richmond Data Center, just outside the 90-mile blast zone encircling Washington, DC. This ultra-secure 200-acre campus offers a level of multi-layer security that can meet the compliance requirements of security-conscious government agencies and contractors.
Many Latin American companies seeking a US footprint choose QTS Miami due to the hardened facility’s Category 5 hurricane protection rating and secure connectivity.
The QTS Dallas Data Center is the company’s newest facility, with 700,000 square feet of secure space that can be doubled to over 1.4 million square feet on a 40-acre campus in Irving/Las Colinas area of the Dallas Metroplex.
Three premier data centers with over 180,000 square feet of space and over 10 MW of power in Northern California include two state-of-the-art facilities on our secure Santa Clara campus in the heart of Silicon Valley, as well as a state-of-the-art data center in seismically-neutral Sacramento, less than 90 miles from San Francisco.
The QTS story began at our Kansas facilities in Wichita and Overland Park, which also serves as our corporate headquarters.
Many of our customers find the geographic diversity of QTS suits their requirements for geographic diversity, whether it is bicoastal hosting, disaster recovery or business continuity in a different region, or simply to have their primary data center infrastructure in a location that they find to be strategic. For more details on any of our high-performance data centers visit our data center page or call 1-877-QTS-DATA. - See more at: http://www.qtsdatacenters.com/qts_difference/national_footprint_of_mega_data_centers.aspx#sthash.aFH8EI9T.dpuf
No problem... if you google map my business it would come up as something else and that something else hasn't been there in 6 yrs
I understand I was just making a point actually to oldman that everything you see on google maps is not real time that's all
This is where all the magic happens:
The Company also today announced that it has entered into a long-term agreement with Quality Technology Services (QTS) to provide outsourced hosting services in Sacramento. MyECheck's primary production environment now resides at their highly secure and redundant data center.
QTS owns, operates and manages over 3.8 million square feet of secure, state-of-the-art data center infrastructure and provides dependable mission-critical IT operations for over 800 customers. QTS is one of the largest data center providers in the US and provides core data center services -- Custom Data Center Services, Colocation Services, and Cloud Services.
As far as google maps goes this comes from there website:
Street View images are not real time
"Our images show only what our vehicles were able to see on the day that they drove past the location. Afterward, it takes at least a few months to process the collected images before they appear online. This means that images you look at on Street View could be anywhere from a few months to a few years old"
http://www.google.com/maps/about/behind-the-scenes/streetview/privacy/
I think google view was launched in 2007
The weirdest thing to me about this company is why aren't they selling what I thought was one of the greatest health products on earth at the time I found out about it 5 years ago. "Are you kidding me" was my reaction when they stopped selling it! I thought it was some kinda of conspiracy that all of a sudden a product showing positive results on cancer and HIV suddenly stopped being shipped and sold because the company decided to take another direction seeking BIG PHARMA as potential candidates for it's products. This product needs to be on the streets today I wouldn't care what the stock price is because it wasn't the stock that led me to this company it was the product and I am pissed off that it's not available to the public. I dont know who paid you guys a visit that through this company in another direction but this is fckn crazy not to market this product directly to the public you could be saving so many lives.
I agree plus he never mentioned the Patent and how the Bank he partnered with went out of business which caused MYEC to go down with it.
I agree UTRM has one of the slight edges on Pot so to speak.
Ideas and people make the world go round and this is another great IDEA for the people :)
I hold a position here but don't post here been busy with others but let me say for the sake of ENTERTAINMENT and MEDIA who cares if it's a green screen or not the only thing that matters is how popular it will become that's it, it's news people and the nature of it will spread by word of mouth by everyone and there momma who is interested in this subject of marijuana in one form or the other, I mean where else can you go to hear about this industry in a setting such as this? This is cool this is hip and this is fresh and this is a good investment IMO because it will spread like wall flower, so hold your shares grab some popcorn and sit back and watch it evolve over the years.. just my 2 cents on UTRM
I think it would risk MYEC being considered a monopoly if we didnt license it out JMO
Yes we are and in 5 yrs a 1000 share buy in MYEC will be considered a huge buy, we will be like WOW somebody just bought a 1000 shares what a whale lol!
The nearly 40-year-old ACH network finds itself under increasing pressure from competing payment channels to speed up settlement time. Check image exchange, for example, is capable of clearing funds the same day. At the same time, some financial institutions have formed direct links among themselves outside the network in part to enable faster funds movement, especially on returned items, a development that concerns NACHA. Meanwhile, three of the country’s largest banks—Bank of America Corp., JPMorgan Chase & Co., and Wells Fargo & Co.—have formed a person-to-person payments network called clearXchange that relies on transfers just among the three institutions.
Looks like MYEC is the topic of discussion around town LOL
MYEC will be feakin HUGE in the future!
LOL they can't pull it off it will be to expensive so they have as recent as 2014 mentioned they are researching implementation again LOL! Just call ED and call it a day..ok.
I think they will need MYEC to reduce the cost:
http://digitaltransactions.net/news/story/3627
In a Blow to Faster Settlement, NACHA Members Nix Same-Day ACH Bid
Aug. 13, 2012
A proposal that would have changed network rules to dramatically speed up automated clearing house transactions fell short on Friday of the votes needed to be enacted by NACHA, the ruling body for the ACH system.
The vote on the proposal, which would have provided for same-day instead of next-day settlement of ACH credits and debits, came as a distinct letdown to banks and merchants that had advocated for faster transaction times. Many payments executives argue that the advent of mobile payments in particular has created a consumer expectation that transactions should clear with near-immediate effect. Some smaller banks, too, backed the proposal in hopes it would help them attract consumers and merchants. “It’s getting harder for community banks to stay in the payments business,” says a disappointed Bob Steen, chairman of Bridge Community Bank in Mechanicsville, Iowa. “This [vote] doesn’t help.”
The proposed change, which would have ushered in what NACHA dubbed Expedited Processing and Settlement (EPS), required a favorable vote from at least three-quarters of voting members. “NACHA and its members recognize that faster processing and settlement for the ACH Network is important to supporting end user needs as the payments landscape grows and changes,” the organization said in a statement e-mailed to Digital Transactions News. “The majority of voting members were in favor of Expedited Processing and Settlement, but NACHA did not receive the 75 percent positive vote that was needed for it to pass.” NACHA refuses to release the exact results of the balloting.
The negative vote comes after a two-year period of gestation for the proposal, which if it had passed would have represented a historic change in ACH settlement windows. Herndon, Va.-based NACHA last September distributed a 22-page request for comment to both financial institutions and non-banks that process ACH payments or otherwise have a stake in the network. After sifting through the comments, NACHA prepared ballots for Friday’s vote. It proposed that, if approved, the EPS system would go into effect Sept. 15, 2014, fully 18 months later than the original deadline advanced last fall.
The nearly 40-year-old ACH network finds itself under increasing pressure from competing payment channels to speed up settlement time. Check image exchange, for example, is capable of clearing funds the same day. At the same time, some financial institutions have formed direct links among themselves outside the network in part to enable faster funds movement, especially on returned items, a development that concerns NACHA. Meanwhile, three of the country’s largest banks—Bank of America Corp., JPMorgan Chase & Co., and Wells Fargo & Co.—have formed a person-to-person payments network called clearXchange that relies on transfers just among the three institutions.
Some observers blame these private exchanges for the collapse of the EPS initiative, which reportedly failed to win positive votes from a number of large financial institutions. NACHA says some members balked because of cost. “The EPS ballot did not pass because of some concerns as individual organizations looked at their costs and benefits and impact on operations,” the statement says.
The proposal called for a capability to clear and settle ACH transactions on the same day they are submitted by originating banks. Currently, ACH transactions are typically settled the day after they are submitted. EPS would have applied to both debits, or transactions in which merchants pull funds from consumers’ accounts, and credits, payments initiated by consumers to pay merchants. The proposal also required that all so-called receiving financial institutions, the banks that take in ACH transactions and then debit or credit accounts, support EPS.
The Federal Reserve has operated a same-day ACH service since August 2010, but merchants and some industry analysts have faulted it because it is limited to debits and does not require participation by receiving banks. Critics say that has severely limited the service’s utility, while creating uncertainty among businesses and originating banks about whether particular receiving financial institutions will support the faster payment.
While acknowledging that EPS would impose new costs on both originating and receiving institutions, NACHA stressed the need for ubiquity, or the certain knowledge that any endpoint in the network can handle any given transaction.
NACHA knows this is the future!
To gather information to inform future rulemaking, NACHA is launching a study to assess the industry’s costs and potential transaction volume for same-day ACH. The study will delve into specific facts around RDFIs’ investment and operating costs as a result of receiving same-day payments. The study also will fully explore ACH volume potential through detailed interviews and inputs. The information gathered on implementation capabilities, costs and volume will then inform rulemaking that could occur as early as fall 2014.
"That's good news shows me how serious they are taking the future of electronic payments but ED has the Patent which sits in the center of where this industry is headed."
"Connect to MyECheck’s Check Engine and submit transactions directly from your existing payment platform streaming in real time or in batches.
MyECheck can be your invisible backend processor that will gain your organization a large competitive advantage.
Own your own Electronic Check Engine and all the electronic check payment platforms offered by MyECheck through MyECheck’s exclusive payment system licensing program"
For everyone that cries about how MYEC's website looks or looked look at Euronet Worldwide's website:
http://www.euronetworldwide.com/our_company/our_company_home.cfm
Wow can't wait to Ed gets us out these penny minded investors cesspool where every little detail is scrutinized.
It's all good bro it's just a lot more funnier when we are up :)
Uubar some of your post strike me as kinda odd you know like negative so to speak when it comes to MYEC but maybe I just don't understand your humor and never will JMO
Lets hope those whales are longs!
Long on MYEC forever!
Electronic Check Web Service
Internet merchants and other companies wishing to accept payments online or over a telephone (“Merchants”) can directly integrate with MyECheck’s payment engine. Payer check data is collected by the Merchant either at the Merchant’s website or over the telephone, and is transmitted in real-time to MyECheck for processing.
MyECheck uses patented technology to generate electronic checks in accordance with the Federal Reserve Check 21 specification. Electronic checks are formatted and are transmitted in near real-time to banks, or directly to the Federal Reserve for clearing on behalf of MyECheck’s customers.
Electronic checks are not subject to many of the shortcomings of Automated Clearing House (“ACH”) based e-check systems and cost-effectively provide higher transaction success rates, faster funds clearing and fewer returned items.
Compared to other online payment methods, MyECheck’s Electronic Check Web Services works with more payers, is more secure with less fraud, and is lower cost with flat fee pricing.
iStock_000036575338Large
Check Authorization Service
MyECheck offers Check Authorization Service, which enables merchants to verify consumer provided data, check the status of the customer’s bank account, provide evidence that the consumer has authorized the check and predict the likelihood of a check being returned unpaid. Businesses that accept payments online through MyECheck utilize this service to provide greater assurance that the check will clear. Transactions can be approved or declined based upon the results of the Check Authorization Service.
Check Guarantee Service
MyECheck co-markets with Check Guarantee Providers to offer Check Guarantee Service. The Check Guarantee Provider warranties all approved checks and reimburses the Payee for financial losses incurred as a result of returned checks. The Check Guarantee Provider buys the returned checks that have been warranted from merchants for the full face value of the returned checks. MyECheck merchants utilize Check Guarantee Service so that they can ship products or provide services immediately without having to wait for the check to clear. The Check Guarantee Service also eliminates the need for Merchants to collect on returned items from their customers. The Check Guarantee Providers are independent third parties whose services are offered to Merchants separately from the MyECheck service. MyECheck is not compensated by, and does not compensate, Check Guarantee Providers. MyECheck may in the future enter into compensated arrangements with Check Guarantee Providers.
Please visit http://myecheck.com
MyECheck operates under license to US Patent 7,389,913 Method and Apparatus for Online Check Processing issued June 2008.
We have created and cleared in excess of Ten Million fully electronic check transactions for Fortune 100 corporations, state governments, and internet retailers.
We welcome new growth opportunities, please contact us for more information, to request services or to explore potential partnerships.
Please visit http://myecheck.com
Edward Starrs - CEO/CFO/Chairman of the Board/Director/President, MyEcheck, Inc.
http://www.forbes.com/profile/edward-starrs/
Mr. Starrs has 16 years experience developing anti-fraud technology related to network transactions and has previously worked with the US National Security Agency under a Co-Operative Research and Development Agreement and Patent License Agreement to develop and commercialize network security related technology. Steve Blandford, MyECheck CTO, also has very extensive security and anti fraud technical expertise, and has experience with Mr. Starrs on security and fraud prevention technologies for over 10 years including leading development on the NSA project and others.
About MyECheck
MyECheck Inc. is a leading payment data processor and technology developer & licensor that provides a new electronic payment method used as a preferred alterative to cash, paper checks, credit & debit cards, and ACH "e-check" payments. MyECheck's patented payment method is the fastest, most secure and most cost effective payment method in the US and is poised to be a significant payment platform. As the leader in Check 21 solutions and check image processing for online and mobile transactions, MyECheck provides merchants with the easiest, fastest, safest, and lowest cost way to collect money electronically from the most customers. MyECheck customers include corporations, retailers, governments, payment processors and financial institutions.
Please visit http://myecheck.com
MyECheck, Inc. announced the launch of Version 3.0 of its patented electronic check data processing engine. The new platform with significantly enhanced security and functionality can quickly integrate with any bank in the US Federal Reserve banking system, eliminating the need for MyECheck customers to open a new account at a specific partner bank such as Bank of Kentucky. MyECheck is now successfully using the new platform to deposit real time electronic payments into customer accounts at Bank of America, Chase, and many other banks.
New proprietary security and anti-fraud systems within MyECheck Version 3.0 are being introduced into the industry and further reduce the likelihood of fraudulent transactions. The new systems further validate all data associated with a transaction in real time and enable new types of real time commerce and revenue streams for MyECheck customers and licensees such as real time mobile payments.
Other features of MyECheck 3.0 include plug-ins for mobile commerce apps, easier and faster customer integration, licensee modules and reporting, faster processing speeds and much higher processing capacity, with additional functionality to be easily added as plug-in modules. Future security technologies being developed now include 'Biometrically Authorized Device Signatures', and technology that correlates validated bank account ownership to a validated identity.
MyECheck CEO, Ed Starrs commented, "MyECheck Version 3.0 represents a major system upgrade over 2.0 released in July 2006. New capabilities equip us to handle our new revenue streams, higher capacities and evolving customer needs while improving efficiency. Most importantly, we are on the leading edge of fraud prevention technology and practices in the payments industry. After over 10,000,000 fully electronic checks processed, MyECheck has never had a fraud complaint or refund, and security protocols and new technologies in MyECheck Version 3.0 will help ensure we continue to stay ahead of fraud."
"Key to widespread adoption and acceptance of MyECheck technologies is a completely safe and trusted real-time electronic payment system that works for anyone, anytime on any device. The system must also be low cost, simple to use and easily added to any commerce application, that's the ultimate US payment system and that is what we are delivering right now," Starrs added.
The Company also today announced that it has entered into a long-term agreement with Quality Technology Services (QTS) to provide outsourced hosting services in Sacramento. MyECheck's primary production environment now resides at their highly secure and redundant data center.
QTS owns, operates and manages over 3.8 million square feet of secure, state-of-the-art data center infrastructure and provides dependable mission-critical IT operations for over 800 customers. QTS is one of the largest data center providers in the US and provides core data center services -- Custom Data Center Services, Colocation Services, and Cloud Services.
Mr. Starrs has 16 years experience developing anti-fraud technology related to network transactions and has previously worked with the US National Security Agency under a Co-Operative Research and Development Agreement and Patent License Agreement to develop and commercialize network security related technology. Steve Blandford, MyECheck CTO, also has very extensive security and anti fraud technical expertise, and has experience with Mr. Starrs on security and fraud prevention technologies for over 10 years including leading development on the NSA project and others.
About MyECheck
MyECheck Inc. is a leading payment data processor and technology developer & licensor that provides a new electronic payment method used as a preferred alterative to cash, paper checks, credit & debit cards, and ACH "e-check" payments. MyECheck's patented payment method is the fastest, most secure and most cost effective payment method in the US and is poised to be a significant payment platform. As the leader in Check 21 solutions and check image processing for online and mobile transactions, MyECheck provides merchants with the easiest, fastest, safest, and lowest cost way to collect money electronically from the most customers. MyECheck customers include corporations, retailers, governments, payment processors and financial institutions.
Please visit http://myecheck.com
I agree lets post more facts about MYEC and less speculation it creates a sense of urgency to new investors that hit our page.
MyECheck, Inc. launched a new payment platform for real-time government account to government account payments. MyECheck G-Pay service is the only fully electronic payment service that is capable of processing fully electronic transfers from government owned bank accounts.
The G-Pay application is a plug-in to MyECheck V 3.0 and provides easily implemented security and payment capabilities for government entities to process authorized funds transfers to and from any government owned checking account. The service will be sold directly to federal, state and local government entities through internal sales, and through the use of contracted government payment service providers as resellers.
MyECheck also announced it has certified with the state of California as a qualified vendor to the state, and now is eligible to bid on California state government contracts as a certified vendor for payment services. MyECheck is now also registered in the BidSync system to bid on all eligible government contracts. The company has previously bid on and was awarded a California contract to process payment data for CalSTRS.
The MyECheck G-Pay system has been developed to facilitate an easily implemented solution for government entities to transition from paper items to real-time fully electronic payments. G-Pay works with governments existing check payment issuance and tracking systems that are designed to issue and report paper check transactions. Other system features include secure system access and transaction authorization verification, and customizable automated reporting.
Ed Starrs of MyECheck stated, "Until now, government entities had two ways to make payments, paper check or wire transfer, the vast majority of these transactions being paper checks. The new MyECheck system is the first in the nation to facilitate fully electronic real-time government account payments. The system is also the best solution for tax payments, utility payments and other business (B2G) and personal (P2G) payments."
BidSync offers purchasing and electronic procurement solutions for government agencies and businesses across North America. With the largest bid notification system in North America, suppliers and vendors are able to identify, respond to, and win bid opportunities that grow their businesses.
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.
Please visit http://myecheck.com
MyECheck, Inc announced the launch of Version 3.0 of its patented electronic check data processing engine. The new platform with significantly enhanced security and functionality can quickly integrate with any bank in the US Federal Reserve banking system, eliminating the need for MyECheck customers to open a new account at a specific partner bank such as Bank of Kentucky. MyECheck is now successfully using the new platform to deposit real time electronic payments into customer accounts at Bank of America, Chase, and many other banks.
New proprietary security and anti-fraud systems within MyECheck Version 3.0 are being introduced into the industry and further reduce the likelihood of fraudulent transactions. The new systems further validate all data associated with a transaction in real time and enable new types of real time commerce and revenue streams for MyECheck customers and licensees such as real time mobile payments.
Other features of MyECheck 3.0 include plug-ins for mobile commerce apps, easier and faster customer integration, licensee modules and reporting, faster processing speeds and much higher processing capacity, with additional functionality to be easily added as plug-in modules. Future security technologies being developed now include 'Biometrically Authorized Device Signatures', and technology that correlates validated bank account ownership to a validated identity.
MyECheck CEO, Ed Starrs commented, "MyECheck Version 3.0 represents a major system upgrade over 2.0 released in July 2006. New capabilities equip us to handle our new revenue streams, higher capacities and evolving customer needs while improving efficiency. Most importantly, we are on the leading edge of fraud prevention technology and practices in the payments industry. After over 10,000,000 fully electronic checks processed, MyECheck has never had a fraud complaint or refund, and security protocols and new technologies in MyECheck Version 3.0 will help ensure we continue to stay ahead of fraud."
"Key to widespread adoption and acceptance of MyECheck technologies is a completely safe and trusted real-time electronic payment system that works for anyone, anytime on any device. The system must also be low cost, simple to use and easily added to any commerce application, that's the ultimate US payment system and that is what we are delivering right now," Starrs added.
The Company also today announced that it has entered into a long-term agreement with Quality Technology Services (QTS) to provide outsourced hosting services in Sacramento. MyECheck's primary production environment now resides at their highly secure and redundant data center.
QTS owns, operates and manages over 3.8 million square feet of secure, state-of-the-art data center infrastructure and provides dependable mission-critical IT operations for over 800 customers. QTS is one of the largest data center providers in the US and provides core data center services -- Custom Data Center Services, Colocation Services, and Cloud Services.
Mr. Starrs has 16 years experience developing anti-fraud technology related to network transactions and has previously worked with the US National Security Agency under a Co-Operative Research and Development Agreement and Patent License Agreement to develop and commercialize network security related technology. Steve Blandford, MyECheck CTO, also has very extensive security and anti fraud technical expertise, and has experience with Mr. Starrs on security and fraud prevention technologies for over 10 years including leading development on the NSA project and others.
About MyECheck
MyECheck Inc. is a leading payment data processor and technology developer & licensor that provides a new electronic payment method used as a preferred alterative to cash, paper checks, credit & debit cards, and ACH "e-check" payments. MyECheck's patented payment method is the fastest, most secure and most cost effective payment method in the US and is poised to be a significant payment platform. As the leader in Check 21 solutions and check image processing for online and mobile transactions, MyECheck provides merchants with the easiest, fastest, safest, and lowest cost way to collect money electronically from the most customers. MyECheck customers include corporations, retailers, governments, payment processors and financial institutions.
Please visit http://myecheck.com
MyECheck, Inc announced the launch of Version 3.0 of its patented electronic check data processing engine. The new platform with significantly enhanced security and functionality can quickly integrate with any bank in the US Federal Reserve banking system, eliminating the need for MyECheck customers to open a new account at a specific partner bank such as Bank of Kentucky. MyECheck is now successfully using the new platform to deposit real time electronic payments into customer accounts at Bank of America, Chase, and many other banks.
New proprietary security and anti-fraud systems within MyECheck Version 3.0 are being introduced into the industry and further reduce the likelihood of fraudulent transactions. The new systems further validate all data associated with a transaction in real time and enable new types of real time commerce and revenue streams for MyECheck customers and licensees such as real time mobile payments.
Other features of MyECheck 3.0 include plug-ins for mobile commerce apps, easier and faster customer integration, licensee modules and reporting, faster processing speeds and much higher processing capacity, with additional functionality to be easily added as plug-in modules. Future security technologies being developed now include 'Biometrically Authorized Device Signatures', and technology that correlates validated bank account ownership to a validated identity.
MyECheck CEO, Ed Starrs commented, "MyECheck Version 3.0 represents a major system upgrade over 2.0 released in July 2006. New capabilities equip us to handle our new revenue streams, higher capacities and evolving customer needs while improving efficiency. Most importantly, we are on the leading edge of fraud prevention technology and practices in the payments industry. After over 10,000,000 fully electronic checks processed, MyECheck has never had a fraud complaint or refund, and security protocols and new technologies in MyECheck Version 3.0 will help ensure we continue to stay ahead of fraud."
"Key to widespread adoption and acceptance of MyECheck technologies is a completely safe and trusted real-time electronic payment system that works for anyone, anytime on any device. The system must also be low cost, simple to use and easily added to any commerce application, that's the ultimate US payment system and that is what we are delivering right now," Starrs added.
The Company also today announced that it has entered into a long-term agreement with Quality Technology Services (QTS) to provide outsourced hosting services in Sacramento. MyECheck's primary production environment now resides at their highly secure and redundant data center.
QTS owns, operates and manages over 3.8 million square feet of secure, state-of-the-art data center infrastructure and provides dependable mission-critical IT operations for over 800 customers. QTS is one of the largest data center providers in the US and provides core data center services -- Custom Data Center Services, Colocation Services, and Cloud Services.
Mr. Starrs has 16 years experience developing anti-fraud technology related to network transactions and has previously worked with the US National Security Agency under a Co-Operative Research and Development Agreement and Patent License Agreement to develop and commercialize network security related technology. Steve Blandford, MyECheck CTO, also has very extensive security and anti fraud technical expertise, and has experience with Mr. Starrs on security and fraud prevention technologies for over 10 years including leading development on the NSA project and others.
About MyECheck
MyECheck Inc. is a leading payment data processor and technology developer & licensor that provides a new electronic payment method used as a preferred alterative to cash, paper checks, credit & debit cards, and ACH "e-check" payments. MyECheck's patented payment method is the fastest, most secure and most cost effective payment method in the US and is poised to be a significant payment platform. As the leader in Check 21 solutions and check image processing for online and mobile transactions, MyECheck provides merchants with the easiest, fastest, safest, and lowest cost way to collect money electronically from the most customers. MyECheck customers include corporations, retailers, governments, payment processors and financial institutions.
Please visit http://myecheck.com
Low flat fee per transaction, no interchange fees, just download, set-up and accept bank account transfers from any US checking account.
Merchant Point of Sale System for Mobile Payments
MyECheck’s downloadable merchant mobile payment acceptance application. The only requirements to become a merchant on the system are a computer running Intuit Quickbooks software and an Internet or wireless connection. The application enables real-time authorized point of sale payments from any User app. Merchant invoice data is captured by the User on their mobile device via Quick Response (QR) code and displayed on the User app. The User authorizes payment from their pre-registered bank account by entering their PIN or biometric. The unique User token is transmitted to prove authorization, the bank account is verified again prior to transaction approval and processing.
Please visit http://myecheck.com
Electronic Check Web Service
Internet merchants and other companies wishing to accept payments online or over a telephone (“Merchants”) can directly integrate with MyECheck’s payment engine. Payer check data is collected by the Merchant either at the Merchant’s website or over the telephone, and is transmitted in real-time to MyECheck for processing.
MyECheck uses patented technology to generate electronic checks in accordance with the Federal Reserve Check 21 specification. Electronic checks are formatted and are transmitted in near real-time to banks, or directly to the Federal Reserve for clearing on behalf of MyECheck’s customers.
Electronic checks are not subject to many of the shortcomings of Automated Clearing House (“ACH”) based e-check systems and cost-effectively provide higher transaction success rates, faster funds clearing and fewer returned items.
Compared to other online payment methods, MyECheck’s Electronic Check Web Services works with more payers, is more secure with less fraud, and is lower cost with flat fee pricing.
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Check Authorization Service
MyECheck offers Check Authorization Service, which enables merchants to verify consumer provided data, check the status of the customer’s bank account, provide evidence that the consumer has authorized the check and predict the likelihood of a check being returned unpaid. Businesses that accept payments online through MyECheck utilize this service to provide greater assurance that the check will clear. Transactions can be approved or declined based upon the results of the Check Authorization Service.
Check Guarantee Service
MyECheck co-markets with Check Guarantee Providers to offer Check Guarantee Service. The Check Guarantee Provider warranties all approved checks and reimburses the Payee for financial losses incurred as a result of returned checks. The Check Guarantee Provider buys the returned checks that have been warranted from merchants for the full face value of the returned checks. MyECheck merchants utilize Check Guarantee Service so that they can ship products or provide services immediately without having to wait for the check to clear. The Check Guarantee Service also eliminates the need for Merchants to collect on returned items from their customers. The Check Guarantee Providers are independent third parties whose services are offered to Merchants separately from the MyECheck service. MyECheck is not compensated by, and does not compensate, Check Guarantee Providers. MyECheck may in the future enter into compensated arrangements with Check Guarantee Providers.
Please visit http://myecheck.com