MyECheck Inc. - MYEC

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MyECheck Inc. Announces Second Quarter 2009 Results -- Electronic Transaction Processor Increases Revenues by Over 100%

Press Release
Source: MyECheck Inc.
On Monday August 17, 2009, 1:38 pm EDT
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Companies: MyECheck, Inc.
EL DORADO HILLS, CA--(Marketwire - 08/17/09) - MyECheck Inc. (OTC.BB:MYEC - News), an electronic transaction processor and provider of alternative payment solutions, is pleased to announce its Second Quarter 2009 financial results for the period of April 1, 2009 to June 30, 2009.

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MYEC.OB 0.25 +0.03

The Company processed 884,502 transactions totaling $36,891,402.63 for the three months ending June 30, 2009 compared to 425,208 transactions totaling $15,372,749.39 for the same period in 2008; an increase of 140%.

Compared with Q1 2009, the Company grew processing volume by over 33% and grew revenue by over 37% in Q2 2009.

In its seventh quarter of revenue generating operations, Q2 2009 revenue was $225,074 compared to $110,805 for the same period in the previous year.

Net cash used in operating activities was only $5,331 for the six months ended June 30, 2009, compared to $448,777 for the six months ended June 30 2008. MyECheck operated cash flow positive in both the months of May and June 2009.

The Company expects continued revenue growth throughout the remainder of 2009 while keeping expenses to approximately the current level, increasing profits and margins.

MyECheck also announced a number of larger clients in the second quarter including Regal Entertainment Group, Simplifile and The Small Business Network with over 175,000 members signed. Edward Starrs, C.E.O. of MyECheck, noted that the Company is starting to attract larger revenue potential clients and that the sales pipeline was expanding.

"We are pleased to have grown revenues and controlled expenses during the economic downturn, and are maintaining double digit percentage growth on a quarter to quarter basis," Starrs commented.

About MyECheck

MyECheck Inc. is a leading electronic transaction processor and provider of alternative payment solutions for brick & mortar, internet, and mobile commerce. MyECheck utilizes a patented method of creating and clearing remotely created checks for exceedingly fast, secure and cost effective payments. As the leader in Check 21 solutions and check image processing for online merchants, MyECheck provides merchants with financial access to more customers than any other payment method.

Please visit MyECheck:: eCheck Processing for the 21st Century

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.

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Patrick Lowry
916.932.0089
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MyECheck Signs the Metropolitan Benefit Group to Its Check 21 Payment Processing Electronic Transaction Software

Press Release
Source: MyECheck Inc.
On Monday August 24, 2009, 10:00 am EDT
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Companies: MyECheck, Inc.
EL DORADO HILLS, CA--(Marketwire - 08/24/09) - MyECheck Inc. (OTC.BB:MYEC - News), an electronic transaction processor and provider of Check 21 alternative payment solutions, is pleased to announce that it has signed the Metropolitan Benefit Group as a client.

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MYEC.OB 0.23 +0.01

The Metropolitan Benefit Group is the premier provider of warranty products for top companies in North America, South America, Europe & the Caribbean. They specialize in administration, underwriting and marketing of warranty and service contracts in the wholesale and retail markets. Please visit http://www.metropolitanbenefit.com/

MyECheck's patented RCC image service is the world's first Check 21 processing solution for remote and online transactions, and is ideal for recurring payments and batch transactions. MyECheck's RCC solution can clear funds from any checking account in the Federal Reserve banking system; more institutions and accounts than ACH can reach. RCC images clear faster than ACH, and have fewer return reasons. RCCs are not governed by NACHA and are not subject to their rules, fees, fines and chargeback policies

MyECheck is the first to market with this type of service in the multi-trillion dollar paper check image processing industry, while maintaining a leadership position as an online Check 21 processor. MyECheck services lower transaction abandonment, virtually eliminate charge-backs, increase market size, increase conversion rates and increase profits for its clients.

Ed Starrs, CEO of MyECheck, commented, "MyECheck continues to add merchants to its software platform thereby increasing the prospects of long term revenues to the company. This announcement and other similar ones only highlight some of the larger partnerships that the Company is signing and do not include the myriad of smaller customers signing up for our services."

About MyECheck

MyECheck Inc. is a leading electronic transaction processor and provider of alternative payment solutions utilizing a patented method of creating and clearing remotely created checks for exceedingly fast, secure and cost effective payments. As the leader in Check 21 solutions and check image processing for online merchants, MyECheck provides merchants with financial access to more customers than any other payment method.

Please visit MyECheck:: eCheck Processing for the 21st Century

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.

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Contact:
Patrick Lowry
916.932.0089
Email Contact

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Company releases great news!

MyECheck Adds New Clients to Patented Check 21 Payment Processing System -- Company Able to Mitigate eCommerce Losses Due to Credit Card Delinquencies With Its Software

Press Release
Source: MyECheck Inc.
On Wednesday August 26, 2009, 10:00 am EDT
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Companies: MyECheck, Inc.
EL DORADO HILLS, CA--(Marketwire - 08/26/09) - MyECheck Inc. (OTC.BB:MYEC - News), an electronic transaction processor and provider of alternative payment solutions, is pleased to announce that it continues to build up its client base with the additions of new clients including ABC Homestores and HealthandMed.com.

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MYEC.OB 0.20 0.00

These agreements allow clients' customers to use their checking accounts as an additional form of online payment. MyECheck's patented software can debit every U.S. checking account, even accounts that ACH cannot debit; thus providing online merchants financial access to more consumers and businesses than any other payment method.

With Credit Card charge-off rates and delinquency rates reaching highs not seen in years, the ecommerce industry is faced with a shrinking number of consumers able to use 'traditional' payment methods such as credit cards.

In the first quarter of 2009, credit card delinquencies hit a record high of 6.5%, while charge-offs reached 7.5%, a near-record high, according to the Federal Reserve while banks are closing a record number of credit card accounts. MyECheck offers its services at a fraction of the cost of credit-card processors, and does not require any deposits or rolling reserves.

Ed Starrs, CEO of MyECheck, commented, "Our solution provides merchants with a broader reach at a better rate than our competitors. Today, MyECheck is a leader in Check 21 solutions offering the most comprehensive suite of electronic check processing services in the industry. By providing a number of options to our clients, we are able to cover a wide variety of situations while continuing to grow and build a solid base of customers."

About MyECheck

MyECheck Inc. is a leading electronic transaction processor and provider of alternative payment solutions utilizing a patented method of creating and clearing remotely created checks for exceedingly fast, secure and cost effective payments. As the leader in Check 21 solutions and check image processing for online merchants, MyECheck provides merchants with financial access to more customers than any other payment method.

Please visit MyECheck:: eCheck Processing for the 21st Century

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.

Contact:



Contact:
Patrick Lowry
916.932.0089
Email Contact