MyECheck, Inc. (MYEC.OB) Gains in Popularity as Credit Card Companies Cut Off Consumers
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…