Recently MyECheck Incorporated introduced their newest product: MyECheck Virtual Terminal, a service application for small businesses, catalog and call-in order operations. MyECheck is a financial electronic transaction processor and provider of alternative payment solutions for Internet and mobile commerce. The company’s patented Check 21 technology, used as an apparatus for online check processing, has been incorporated into the new virtual terminal.
The Virtual Terminal will be an interactive web service application for merchants to manually input customer transaction data and receive real time authorizations in a secure environment. Providing such services for small businesses and call centers provides a large potential income stream for MyECheck, which previously had no footprint into the multi-billion dollar catalogue industry. Small businesses can now directly access MyECheck services without the need for a technical integration.
The CEO of MyECheck, Ed Starrs spoke in a press release after the announcement saying, “We continue to refine and add features to our patented software. MyECheck’s Check 21 solution offers the fastest, safest and most cost effective way to process electronic payments from an expanding customer base, and is experiencing rapid growth in the growing eCommerce and Payments industries.”
The use of the MyECheck Virtual Terminal will mean that companies that take call-in or mail-in orders can now directly input customer check data for authorization, check guarantee and processing. This process will save time and money from the traditional system, which often involved small test deposits and EFTs. Only merchants that have been underwritten and bank approved will have access to the MyECheck Virtual Terminal, easing the minds of consumers, who can now rest assured that giving away their personal banking information will not endanger them.
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