Electronic Checks

/Electronic Checks

The Federal Reserve System’s New Payment Instrument, The Electronic Check

On February 4, 2014, the Board of Governors of the Federal Reserve System took the final step before creating a new law that will define a new payment official instrument called the “electronic check”. Here’s what they intend to do, and some excerpts from my patent below. Federal Reserve Proposed New Rule, February 4, 2014 [...]

2017-01-04T15:17:55-07:00March 9th, 2014|

MyECheck’s Mobile Product Strategy

MyECheck’s strong competitive advantage as an electronic payment platform is its exclusive ability to enable transfers from any checking account. And the transactions are faster, safer and lower cost than ACH and card transactions. The benefits are substantial making the MyECheck platform clearly superior in many ways for mobile payments. MyECheck provides three types of [...]

2017-01-04T15:17:55-07:00March 7th, 2014|

Merchants are at a disadvantage in most e-commerce transactions due to deficiencies in payment systems

In order for electronic commerce to reach its full potential, the payment systems must be efficient, cost effective, fast, universally accessible and fair. Most current widely used payment systems fail to adequately meet the current and future e-commerce industry requirements in these areas. Improvements need to be made to existing systems, and new systems incorporating [...]

2017-01-04T15:17:57-07:00June 20th, 2012|