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Re: inzane post# 125996

Wednesday, 05/07/2014 2:06:37 PM

Wednesday, May 07, 2014 2:06:37 PM

Post# of 298910
It was also part of your DD I covered in my article that leads us to believe there is a connection to EVO

There is also a connection that has been potentially uncovered between MYEC and EVO Snap (a subsidiary of EVO Payments International). EVO is among the largest fully integrated merchant acquirer and payment processors in the world. EVO operates as a payments service provider for both face-to-face and e-commerce transactions for all major credit cards, debit cards, commercial cards and electronic bank transfers. EVO is active in nearly 50 markets and 120 currencies around the world (see their bio here, there are a lot of good facts covering EVO USA, Europe and Canada which are helpful to help grasp the size of this entity and potential impact to the bottom line for MYEC if this connection pans out). We can also see mention of Check 21 here in which it's stated "This facilitates faster funding on a wider variety of checks with fewer restrictions than ACH", are they referring to MYEC?
The connection was established by beginning with MYEC's old partnership with IP Commerce Inc. which was formed back in 2008 (see here). In September of 2013 EVO Payments International acquired a perpetual software licence from IP Commerce forming EVO Snap (see here). The software license allows EVO to expand its ability through its proprietary processing platforms to support the software community, including point-of-sale, mobile, and e-commerce developers, with the tools necessary to develop a broader suite of multi-channel, multi-service solutions needed to serve EVO's worldwide base of merchant customers.
Coincidence or not, it's also very interesting that Peter Osberg, a former executive at IP Commerce and head of EVO's new integrated payments group called EVO Snap, is also a founding member of GreenPay Network LLC (AKA http://www.mj-pay.com/, see here)... You will have to evaluate the connections for yourself. But this is someone who has used and recognizes the value added.
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