Today before the bell, MyECheck announced that Simon Properties Group Inc. (NYSE: SPG), the largest U.S. publicly traded real estate company, signed an agreement to utilize the company’s comprehensive suite of electronic check processing services. Through this agreement, Simon Properties’ customers will be able to use their checking accounts as a method of payment.
Simon Property Group, Inc., an S&P 500 company, operates from five retail real estate platforms:
regional malls, Premium Outlet Centers, The Mills, community/lifestyle centers and international properties. Currently, the company owns or has an interest in 379 properties comprising 258 million square feet of gross leasable area in North America, Europe and Asia.
MyECheck’s patented system provides businesses with the most flexible means of payment processing for its customers. The system is capable of clearing checks from every U.S. checking account, unlike ACH, and only costs a fraction of the processing fees of card transactions.
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