News Column

BRIEF: Folsom's MyECheck reports profits of nearly $1.4 million in year's first half

August 21, 2014

By Mark Glover, The Sacramento Bee



Aug. 21--MyECheck Inc., the Folsom-based developer and licenser of electronic check services, reported a profit of nearly $1.4 million through the first half of this year.

In its recent quarterly earnings report, MyECheck posted a comparatively modest profit of slightly more than $100,000 for the second quarter ending June 30. During the quarter, the company said it hired and trained nine new employees and three independent contractors. It also moved into new offices.

The company, which was operating out of El Dorado Hills, recently signed a three-year lease for 3,200 square feet of Class A office space at 2600 E. Bidwell St. in Folsom. The new space accommodates about a dozen employees.

MyECheck customers include corporations, retailers, governments, payment processors and financial institutions. Revenue is from transaction fees collected for data processing, check authorization and fraud-mitigation services, as well as software and licensing fees.

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Source: Sacramento Bee (CA)


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