EL DORADO HILLS, CA -- (Marketwired) -- 04/04/14 -- MyECheck, Inc. (OTC Pink: MYEC) (PINKSHEETS: MYEC), an electronic payment solutions provider and the leader in fully electronic check technology, today announced that VX Gateway, a provider of global payment services and technologies, has signed an agreement with MyECheck for fully electronic check and related services.
VX Gateway Inc. is a global electronic payment company expert in secure, real-time electronic monetary transactions. VX applies its proprietary VX Cloud Payment Framework which is a Real-Time Gross Settlement system that coordinates cloud computing with jurisdictional banking frameworks to provide real time and secure payment processing (including multi-currency transactions) to governments, financial institutions, businesses and consumers, at reduced cost.
MyECheck will provide electronic check services to facilitate real-time straight through processing transactions on the VX Gateway system, in addition to e-wallet account funding and other transactions. VX Gateway offers a large number of payment products for a wide range of customers globally.
VX LOOP account is an International Bank Account Number (IBAN) generated in the VX Cloud Payment Framework. VX LOOP account controls global routing and settlement in seconds using the VX closed loop real time gross settlement system. VX LOOP currently provides multiple currencies between all VX LOOP accounts. Unlike banks, VX LOOP is available 24/7/365.
VX Remittance is the global electronic remittance gateway that pays anyone anywhere in the world in multiple currencies and languages. VX Remittance is available between all VX LOOP account types Government, Financial institution, Business, Merchant and Personal.
Ed Starrs, CEO of MyECheck, commented, "VX Gateway provides opportunity for a large volume of transactions on our system, and puts us into new markets. We expect to go live with services for VX gateway within a couple of weeks."
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 www.myecheck.com
Forward-looking statements in this release are made pursuant to "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of mentioned products, increased levels of competition, new products and technological changes, dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in reports filed with the SEC.