MyECheck, a leading player in electronic check solutions for online and mobile payments, recently announced that it has closed the acquisition of Seergate, developer of a cloud platform for billing and payments. The Seergate system has been integrated with the MyECheck payment systems adding multiple revolutionary new international payment and banking-related capabilities to MyECheck's payment platform.
Seergate is an Israeli corporation which has developed a new omni-channel payment platform targeting small business, electronic commerce and personal money movement. The Seergate payments platform is a robust and proven solution that ran in production with four banks in the USA in collaboration with a banking core processor. Seergate has assets including intellectual property, software, patents and an established sales channel.
The Seergate platform adds to MyECheck’s global electronic banking and payment capabilities, including:
>> Virtual bank accounts with sub-account creation and management
>> Point-of-sale, Internet, mobile, ATM, social network and other commerce systems
>> Automated billing, invoicing and payments for business
>> Refunds, payouts and bank account push transactions
>> Multiple layers of authentication and fraud control
The acquisition of the Seergate platform enables MyECheck to operate a closed loop payment system independent of third party software platforms. MyECheck enables highly secure transactions of any size—from $0.01 to over $10,000,000—which are processed in real time and cost $0.25 or less per transaction to the recipient and are free for the payer.
Eldad Aharoni, Co-founder & CEO for Seergate, had this to say in an official press release, "We are thrilled to join the MyECheck team. As a result of this acquisition, MyECheck will be able to bring additional value and innovation to all merchants, enabling them to transact anywhere in the cloud and/or in person with a one-stop shop. The strength of the combined companies and unique business model enables MyECheck to offer revolutionary services to customers as we leverage our joint industry expertise and vision."