Replies to post #107344 on MyECheck, Inc. (fka MYEC)

[geezydagreat]

Thanks for the heads up-

I think there are a few major issues that people need to take into consideration before they go crazy with their valuations-
1) what is the charge to business owner to run the app based transaction? I would imagine they need some sort of infrastructure to accept it.
Also, Similar to google wallet and other programs, not many consumers are interested in paying with their phones at this time.
2) Integrated with Quickbooks- need other vendors, their processing is really bad and very high, cumbersome to work with
3) The banks make a ton of money on credit cards and the processing- They will not lose all the funds on this. They won't even issue the safer chip and pin cards like in Europe because they don't want to spend the money. Bank fees will go up- look at the Durbin amendment

I am currently long MYEC but just a couple of things to consider.