Payments

MyECheck Acquires Seergate to Add Multiple Payment & Banking Capabilities to Its Platform

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."

Kate

Kate is a staff writer at LetsTalkPayments.com., , She likes to write about mobile payments and mobile commerce.

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