MyECheck Inc. (MYEC.OB) announced that it has entered into an agreement with Superior Business Network, the parent company of Yellow Pages, which retains the largest online directories for U.S. businesses.
MyECheck will provide its unique suite of electronic check processing services to the online directory and advertiser. Superior Business Network clients will be able to utilize their checking accounts as an additional option for online payments. The patented software designed by MyECheck has the ability to debit any U.S. checking account, which even ACH processing is unable to do. This added option for payments will allow more consumers and businesses to purchase services from Superior Business Network.
The MyECheck software has several other advantages over other online processing methods. MyECheck provides a more real-time posting, which results in faster clearing and funds availability for businesses. The more efficient system significantly reduces charge-backs, risk, and improves business cash flow. Processing through MyECheck is very similar to a credit card authorization, but is a guaranteed amount that eliminates fraud implications. MyECheck even has a lower operating cost than both credit and debit card processing.
With the Superior Business Network agreement under its belt, it looks like more national online businesses are recognizing the advantages of using MyECheck software for its online processing.
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