MyECheck Inc. (OTCBB: MYEC), an electronic transaction processor and provider of alternative payment solutions, is pleased to announce that it has signed ForYourParty.com and BeforeYourParty.com as a client and is now providing the online retailer with its comprehensive suite of electronic check processing services.
This agreement allows ForYourParty.com and BeforeYourParty.com 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.
Oppenheimer and Co. predicts issuers will reduce credit card lines by $2.1 trillion in the next 18 months wiping out 45% of spending power US consumers now have on credit cards. And credit card volume share from online purchases is predicted to fall nearly 50% by 2013 according to Javelin strategy and research.
Ed Starrs, CEO, commented, “MyECheck sales efforts have been focused on larger accounts involving longer sales cycles. The company reports it has multiple major accounts in its sales pipeline and intends to continue building its assets and customer base at a steady pace.”
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