MyECheck, Winner of the 2015 PYMNTS Award for Best Check Innovation, has entered into a partnership with Avidia Bank to provide banking services to MyECheck and its customers in support of MyECheck’s new mobile commerce platform.
The bank partnership will allow MyECheck to immediately launch its mobile payment application and web services in conjunction with Avidia Bank account services.
MyECheck’s Mobile Commerce System provides an open platform for any registered user, business or person, to send and receive invoices and payments through email, mobile devices, internet, social media, ATMs or other method. The company’s downloadable Merchant Point-of-Sale application for mobile payments allows any business to accept payments from any mobile device.
The way it works is that a business owner downloads the app and registers, and can then accept payment from anyone with a mobile device who also registered the app. Merchants can build loyalty and also save on card interchange fees in the process.
The system operates as a wireless point of sale using standard computer hardware and connections. Transaction data is securely exchanged through Quick Response (QR) code. According to the company, its use of industry-leading technology ensures transactions are highly secure, and merchants pay only a small flat fee per transaction, with no interchange fees.
Avidia Bank, a $1.3 Billion bank headquartered in Hudson, MA, has also entered into a Reseller Agreement with MyECheck and will sell MyECheck services.
Source: Market Wired