Signal Hill, CA. February 5, 2009 - Electracash, Inc. (www.electracash.com), a leading provider
of Internet payment processing services, announced today an innovative new tool which allows
end-users e-check service to sign and verify their online transactions by using their standard
computer mouse.
This provides for a unique signature “print’ called “SignatureSafe” that enhances both level
securities for the consumer and merchants. SignatureSafe will be available across all of our
payment types, but will be required for our Check21 service which allows the consumer to
produce a signed paper check which Electracash then turns into a substitute check" using a
digital image of the original. As a result, Electracash now allows merchants to accept all types
of checks with fast, guaranteed fund availability.
This new image exchange capability brings a new level of authorization and fraud protection
technology that is crucial for financial services companies as online commerce continues to
evolve. New laws clearly defining the requirements of
electronic payments will usher in a new era of data security and encourage a spike in new
products, including online access to check images, as banks move to eliminate paper and
endeavor to become more cost-effective financial institutions.
Already, forty-five percent of checks deposited with the Federal Reserve are in an Image Cash
Letter (ICL) format and the numbers are growing. We urge you to join this technological
advancement by transitioning your check transactions to a Check21 enabled presentment
system.
Innovative Financial institutions are embracing this new process and technology as a means of
attracting new customers, increasing deposits, increasing fee income and maintaining market
share. Electracash has partnered with several additional banks in preparing for what we believe
will be a new and exciting era in processing merchant payments.
For a live demo of these exciting new Electracash e-check services, please visit
www.Electracash.com/Check21 or contact via email sales@electracash.com. |
