Electracash Offers New Payment Management Tool to Clients.

SIGNAL HILL, Calif. -- Today, Electracash, Inc. a leading provider of Internet check payment processing services, announced the addition of a new billing and payment service for businesses. Electracash MyPayNet is a robust online management tool specifically designed to meet invoicing and collections needs of small to medium enterprises.

MyPayNet was developed by My Payment Network, and offered by Electracash through a reseller partnership. Electracash MyPayNet is an easy-to-use, affordable tool that enables businesses to send invoices and accept payments over the Internet without the need for special or proprietary equipment. It provides comprehensive functionality, including the ability to set up accounts, produce reports, send e-mails, and export files to accounting systems. To use the service, clients need only a computer and an Internet connection.

Electracash CEO Lee Falls has seen market demand for this functionality for some time. He stated, "As businesses grow, invoicing and bookkeeping can become difficult to manage. Our new service provides an easy way for businesses to have electronic invoicing payments to manage their billing and collection needs. In addition to invoicing, accounting, and collection, the tool enables the business' customers to pay online both with major credit cards as well as personal and business checking accounts."

A core advantage of the service is a low technical requirement. Payment pages can easily be linked to the company's web site, but for entity's without web sites, invoices can be created and delivered through e-mail. The consumer/bill-payer can then either click on the e-mailed invoice or go to the web site to pay the bill electronically. MyPayNet also provides a virtual terminal arrangement in which merchants enter transactions taken over the phone into their payment pages.

Lee Falls adds, "As more consumers become accustomed to paying their bills electronically, they want to pay all of their bills, not just those from large corporations such as credit card issuers and auto lending firms. However, many bills that arrive at a residence are from small companies who do not have the technical expertise (or time) to provide an electronic payment service. Electracash MyPayNet fills this gap."

Electracash applies state-of-the-art processing and conscientious risk management practices to its services, and is an early implementer of new processes that continue to improve the Internet check marketplace.