CHEYENNE, WY – JUNE 13, 2014, MyEcheck announced this week that it has acquired a key licensee of its technology, GreenPay LLC, in a move to advance integration of its services into mobile applications. GreenPay licensed MyEcheck’s technology in February with the goal to develop a secure mobile payment solution for the legal marijuana industry.
Upon delivering its custom system to GreenPay, both company’s management agreed it would be difficult for GreenPay, which has limited industry experience, to complete implementing the system, and decided it is both company’s best interest to merge.
GreenPay LLC will operate as a separate entity and a wholly owned subsidiary of MyECheck, Inc. GreenPay is currently launching a mobile app payment solution for the legal marijuana industry. It will enable secure, real-time electronic funds transfers between customers and merchants at legal marijuana retail locations. The ability to accept digital payments and make electronic transfers will resolve issues the industry is experiencing by being able to only accept cash payments.