SACRAMENTO, Calif., March 25, 2008 (PRIME NEWSWIRE) -- MyECheck Inc. (OTCBB:MYEC), a leading provider of comprehensive viable alternative payment solutions, has announced an agreement with TRANSFIRST, a leading provider of credit card processing services and payment enabling technologies. Their partnership will allow TRANSFIRST Customers to accept MyECheck as a form of online payment.
Ranked as one of the Top 10 U.S. processors (Based on The Nilson Report's "2006 Top U.S. Bank Card Acquirers" consolidated list), TRANSFIRST currently processes approximately $30 billion in annual sales volume for more than 160,000 merchants and more than 1,000 financial institutions.
TRANSFIRST has completed mergers and acquisitions with:
* Money Tree Services, adding 3,300 merchants and $350 million in
processing volume;
* PulseCard Inc., adding $500 million in annual processing volume
and vertical expertise in the health services transaction
processing industry;
* DPI Merchant Services, adding $850 million in annual processing
volume and expertise in the e-Commerce and e-Commerce transaction
processing industry;
* Bank of America Merchant Services, Inc., adding $3 billion in
annual sales volume - significantly increasing the company's share
of the total agent bank merchant processing market;
* Payment Resources International, adding $1 billion in annual
processing volume and 7,500 total merchant contracts, as well as
proprietary, internally developed technology; and,
* Fifth Third Bank Processing Solutions' Third Party Sales Merchant
Division, adding $7.5 billion in annual sales volume and
significant growth in the company's Independent Sales Services
Division.
TRANSFIRST is owned by Welsh, Carson, Anderson & Stowe, the largest and most successful private equity firm focused on two industry sectors: information/business services and healthcare. Established in 1979, WCAS manages total capital of over $16 billion. Please visit www.transfirst.com for more information.
Ed Starrs, CEO of MyECheck stated, "We continue to grow as a company and are positioning ourselves as the number one provider of comprehensive viable alternative payment solutions to credit cards. Having such a recognized reseller of our services as TRANSFIRST propels us into the role of being a significant player in the online processing and Check 21 industries and we look forward to a successful partnership."
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. As the leader in Check 21 solutions and check image processing for online merchants, MyECheck's patent pending RCC solution provides merchants with financial access to more consumers than any other single payment method.
MyECheck offers the fastest, safest and most convenient way to process electronic payments from customers.
Please visit www.myecheck.com
Forward-looking statements in this release are made pursuant to the "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 periodic reports filed with the Securities and Exchange Commission.