FOLSOM, CA — (Marketwired) — 04/24/15 — (OTC PINK: MYEC), the leader in electronic bank transfers and mobile payment solutions, announced today that NXR Global, a leading network marketing company and distributor of heath & wellness and entertainment products including Nutronix and VStream. NXR Global customers are now paying them using MyECheck Electronic Checks deposited directly into NXR Global–s bank account at Bank of America, pre-formatted for clearing over Check 21 rails.
NXR Global selected MyECheck over ACH due to the fact that “electronic checks” are faster, safer, and lower cost payments than ACH “e-checks” and card transactions. Electronic checks can debit more bank accounts than ACH can, resulting in more cleared transactions and fewer returned items. Electronic checks cannot be easily reversed after the transaction, unlike ACH and card transactions that are easily reversed with a phone call. This means MyECheck customers keep more of their money by reducing fraudulent returns.
MyECheck electronic bank transfers are not restricted like ACH transactions to amount, or account type, and work with 100% of US checking accounts for any amount. Electronic checks also offer a less regulated and a more favorable environment for merchants to operate under. Electronic checks do not fall under NACHA rules or Reg. E, and instead are treated the same as paper checks although they never exist in paper form.
Faster clearing, lower costs, fewer returns, friendlier regulation, and less restrictions are all benefits merchants are experiencing using MyECheck–s new 21st century payment method. MyECheck payments are ideal for recurring subscription billing, A/R collection, business and government payments and retail sales.
Founded in 1999 as Nutronix, NXR stands at the forefront of product innovation. Committed to quality ingredients, extensive research, and unique formulas, NXR manufactures and distributes safe, effective, and innovative products that are a perfect blend of science and nature. Incorporating the very latest and most effective health and wellness science and technology in all products, NXR provides quality nutritional and skin care products that feature only premium, wholesome ingredients that support health and longevity. , .
Winner of the 2015 Innovation Award for Best Check Innovation, MyECheck Inc. is a leading electronic payment technology developer, licensor 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. 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
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.
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