QualityStocks: QualityStocks News - MyECheck, Inc. (MYEC.OB) Gains in Popularity as Credit Card Companies Cut-Off Consumers - 10/2/08

Oct 02, 2008 (M2 PRESSWIRE via COMTEX) -- MYEC | Quote | Chart | News | PowerRating -- www.QualityStocks.Net would like to highlight MyECheck, Inc. (OTCBB: MYEC). The company is a leading provider of comprehensive viable alternative payment solutions to credit cards for brick & mortar, internet, intranet and mobile commerce. MyECheck utilizes a proprietary method of creating and clearing remotely created checks (RCCs) for exceedingly fast, secure and convenient payments. As the leader in Check 21 solutions and check image processing for online merchants, MyECheck's patent pending RCC solution provides merchants with financial access to more consumers than any other single payment method.

In the company's news today,

MyECheck announced that it is growing in popularity with ecommerce sites as consumers look for alternative payment options to credit cards. According to a report published in the Wall Street Journal on September 30, 2008, credit-card issuers have been decreasing credit limits. Carol Kaplan, spokeswoman for the American Bankers Association, stated, "They're doing it to everyone.'"

This reduction of available credit could literally force a substantial increase in the use of eChecks for both smaller expenses as well as bigger ticket items. This potential upcoming change is anticipated to come easily because, even with the recent boom of credit cards, checks continue to be the number one non-cash payment method in the US, with more than forty trillion dollars processed each year.

CEO of MyECheck stated, "Up to 50% of adults either have no credit card or have insufficient available credit, meaning that as many as 80 million US adults have no ability to buy online at the many websites that only accept credit cards. Our customers are benefitting now and enjoying a huge opportunity."

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