Source: GreenPay LLC – Press Release Nov 5 2014
FOLSOM, Calif., Nov. 5, 2014 /PRNewswire/ — GreenPay LLC, a mobile payments provider to the legal marijuana industry and a wholly owned subsidiary of MyECheck, Inc. (OTC PK: MYEC), the leading innovator and licensor of electronic check systems for mobile payments, announced today that it has signed an agreement with Maverick Bankcard, Inc., a leading merchant account provider of secure processing services to thousands of merchants.
The agreement engages Maverick as an authorized reseller of GreenPay products and services, and allows for co-branding and co-marketing of the MJ-Pay system as MeverickPay. MJ-Pay is a fully electronic real-time mobile payment system designed specifically for marijuana industry payments. The MJ-Pay apps are downloadable by any user with any smart device, and can be registered and used right away to make and accept secure, real-time compliant payments.
The MaverickPay mobile system will allow electronic payments at the point of sale, eliminating the need for cash payments. Retail sales can be made in advance of pick-up at the dispensary. Cash can be loaded onto the system at dispensaries, or funds can be transferred from any checking account onto the system. Electronic funds transfers on the MaverickPay system can be used throughout the industry including in the wholesale and supplier side of the industry.
MaverickPay provides a solution to the multitude of problems present in the marijuana industry due to the lack of electronic forms of payment.
About Maverick: Maverick BankCard, Inc., with headquarters in Agoura Hills, California specializes in providing merchant services to companies for that do not qualify for traditional merchant services due to the nature of the industry in which they operate. Established in 2000, Maverick has provided merchant account and secure processing services to 80,000 customers. Maverick understands the payments industry and how to provide the right solution for each merchant’s unique needs.
About GreenPay: GreenPay, LLC specializes in building applications to enable secure, real time electronic funds transfers at marijuana retail locations. We help legal, state-licensed retailers receive payments electronically, removing the restrictions inherent in an all-cash business. The MJ-Pay app will enable retailers to accept electronic payments and to electronically transfer their revenue into bank accounts. GreenPay operates under license to US Patent 7,389,913, Method an Apparatus for Online Check Processing, and was acquired by MyECheck, Inc. in August of 2014. www.mj-pay.com
About MyECheck: MyECheck Inc. is a leading electronic payment technology developer and payment services provider. MyECheck operates under license to US Patent 7,389,913, “Method and Apparatus for Online Check Processing” granted June 2008. This patented payment method is the fastest, most secure and most cost effective method of processing payments in the US, and it works with the most people, businesses and entities. MyECheck provides comprehensive payment solutions for all payment applications including mobile payments and the industry’s most advanced security and fraud control technologies. MyECheck customers include corporations, retailers, governments, payment processors and financial institutions.
For more information contact:
Bill Delgado Investor Relations
2600 E. Bidwell Street #140
Folsom, CA 95630
Forward-looking statements in this release are made pursuant to “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of mentioned products, increased levels of competition, new products and technological changes, dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in reports filed with the SEC.
SOURCE MyECheck, Inc.