Dutton Associates yesterday announced that it has begun coverage of MyECheck with an initial rating of Neutral and has put the company on review for a possible upgrade in the future. Richard W. West, Dutton senior analyst, prepared the 16-page report and it can be viewed at Dutton’s website as well as at First Call, Bloomberg Professional, Capital IQ, FactSet, and other leading financial portals.
MyECheck has been quick to take advantage of the opportunities created by the recent passage of the Check Clearing for the 21st Century Act (Check 21) by developing a patented technology and internal and external infrastructure. They have also signed up a remarkable cadre of alliances with Internet payment gateways, payments software and service providers for partnership and reseller opportunities.
The 16-page Dutton report discusses the company, the scope of the market addressed, the existing competition, as well as the major possibilities that lie ahead. As credit card companies cutoff consumers and the popularity of buying merchandise online grows, MyECheck’s method of creating and clearing remotely created checks (RCCs) will meet the demand for faster, cheaper, and securable online check processing.
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