How does MyECheck's Platform and MJ-Pay Solve Problems in states like Colorado?
- MyECheck transactions are fully digital, no paper or cash, and a massive amount of associated data can be attached to each transaction file that fully describes all aspects of the transaction. This data provides all the user data along with a variety of optional real time ID certifications and account verifications.
- Users can be limited, restricted, blocked from paying based upon regulatory and business rules such as age, location, criminal record, spending limits, etc.
- Transaction data can be auto exported for auto reporting to bank and regulators daily
We would like to partner with local banks on this project, but it is not required to provide services.
We believe our solution will satisfy the federal guidelines, provide the banks with the oversight and control they need, and help the businesses be more efficient and safer.
