Yesterday after the closing bell, MyECheck announced that it has processed about 2.1 million transactions in 2008, the year the company debuts its patented electronic transaction system.
Unaudited 2008 financial results report that the company’s fourth quarter revenue was approximately $235,000 on processing approximately $40 million worth of goods and services, compared to $41,000 in revenue for the same quarter in 2007. Quarterly revenue growth was solid throughout the year, ranging from 41% to 88% growth per consecutive quarter.
Ed Starrs, C.E.O. of MyECheck Inc., commented, “We are pleased to have established MyECheck as a viable alternative electronic transaction processor in 2008. Our consistent large growth rates demonstrate the strong demand for our services and the capabilities of our operation.”
“We expect our growth to remain strong into the foreseeable future, particularly in this credit crisis. As credit is reduced, consumers need a fast and safe way to pay online or over the phone from their checking accounts, and MyECheck offers the best solution,” Starrs added.
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