TORONTO, April 7, 2006 (PRIMEZONE) -- American Associates Group, Inc. (Pink Sheets:AASG) having recently acquired EPP Secure proudly announces the release of its new secure eCheck RDC Solution. Secure eCheck RDC allows any organization accepting a large quantity of paper checks to convert those checks to a Check 21 compatible bank exchangeable image. EPP Secure expects to have 4,600 merchant users this year, 6,200 in year two and 10,800 in year three. Expected merchant user figures would represent 2,860,000 transactions processed this year, 3,720,000 in year two and 7,560,000 in year three. Net revenues are expected to be $872,100 year one, $1.4 million year two and $3.4 million year three, respectively.
Using the Check 21 system, checks received are fed through a simple, inexpensive imaging device connected to any PC with Internet access. Optical character recognition (OCR) in the secure eCheck software captures the information on the face of the check. Invoices or receipts can be scanned with the check and appended to the check image digitally stored in an easily user-accessible file.
Unlike ACH (Automated Clearing House) transactions, a compliant Check 21 image can replace a business, certified or third-party Check.
EPP Secure's unique banking interface allows funds from checks processed to be deposited in the receiver's bank account as early as the next business day.
With secure eCheck RDC, check receivers dramatically accelerate cash flow, eliminate deposit charges per check and no longer require costly bank lockbox services.
All check images are securely archived along with other data pertinent to the transaction. Payment data can then be imported into account ledgers for reconciliation.
Secure eCheck significantly streamlines all aspects of check payment processing.
About EPP Secure, LLC.
EPP Secure is a technology company providing electronic payment processing services and solutions to businesses, financial institutions and eCommerce goods and services retailers in North America and abroad. EPP specializes in secure, alternative direct payment applications over the internet, internet security solutions and stored value systems which support gift card issuance and redemption as well as pre-paid account management.
About American Associates Group, Inc.
American Associates Group, Inc. is a technology and software company which specializes in internet security and alternative payment processing and developing software and technology incorporating biometric security features on personalized identification cards. American Associates Group, Inc. is publicly listed company on Pink Sheets (AASG).
This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statements provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Such forward-looking statements by definition involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. In particular, there is no assurance that production, pricing levels or other factors pertaining to the manufacturing and retail operations will be sustained at the expected rates or levels over time. Discussions of factors, which may affect future results, are contained in the Company's most recent SEC filings.