MyECheck Inc. (OTCBB: MYEC), an electronic transaction processor and provider of alternative payment solutions, is pleased to announce that it has entered into a definitive agreement with Morse Data Corporation whereby Morse Data is to develop MyECheck interface capability for InOrder.
InOrder is a leading enterprise management system for multi-channel merchants, fulfillment service providers and publishers. Easily deployed as an off-the-shelf system, InOrder accommodates all sales channels, including web, phone, fax, EDI, POS and catalog sales in real time for immediate and accurate inventory and order processing.
Once the interface is complete, which is expected within a few weeks, InOrder clients can quickly and easily add MyECheck payment services without the need for technical integration with MyECheck.
Credit cards are the most popular means to pay for online goods and services, but alternative online payments will account for 26% of e-commerce volume by 2009. A sea change is underway in the online payments world, with credit cards losing dominance as new payments options emerge. Credit cards accounted for over 90% of online payment volume in 2000, but will only account for a minority of e-commerce dollar volume by 2009. This shift will have significant implications for banks, merchants, and service providers supporting card-not-present risk for online merchants.
Ed Starrs, MyECheck CEO, commented, “We believe the relationship with Morse Data is a large opportunity for our company as we have already seen strong interest from InOrder clients. We are looking forward to providing Morse Data clients with our leading patented electronic check processing solution, and adding many valuable customers to our growing portfolio.”
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