On 4:50 pm EST, Monday November 9, 2009
Companies: Trustcash Holdings, Inc.
ATLANTA, GA--(Marketwire - 11/09/09) - TRUSTCASH HOLDINGS, INC. ("TRUSTCASH")
(Pinksheets:TCHH - News) today announces it has received the business case
evaluation and technology strategy from Ajay Hans supporting the decision
to enter Mobile Payment Market.
Amongst other things Mr. Hans recommends Trustcash develop a WAP based
solution which uses wireless communication to access information,
particularly internet content, from a mobile device. Payments will be made
directly on a website or by downloading a mobile payment application.
Purchases will occur in the same manner as traditional online purchases
with no additional billing support required from the mobile Telco.
The use of the mobile phone is the next significant step in the evolution
in the payments industry -- representing another growth opportunity for
Trustcash.
MOBILE PAYMENTS MARKET SIZE
The world wide market size for mobile payments is estimated at 860 Billion
by 2013 (see link below)
(http://futurebanking.bankofamerica.com/mobile-payments-860-billion-2013_886)
With approximately 230 million mobile subscribers in the United States
(over 70 percent of the U.S. population), mobile payments are on the
horizon of the payment industry.
In a recent survey conducted by Visa USA of 800 consumers, 77 percent of
respondents admitted that it would be difficult to get through a single day
without their mobile phones, and more than 50 percent preferred to have
more electronic payment options so they do not have to carry cash.
According to the study, survey respondents are twice as likely to carry
their mobile phones, than cash, with the 18 to 34 year old age group four
times more likely to carry mobile phones.
Management comments, "With a clear technology plan in hand we feel the next
step is to find a Beta partner to develop our mobile solution with. Our
mobile solution should open the door to more growth."
About Trustcash
Through its Trustcash brand and website (www.trustcash.com), Trustcash is a
pioneer of anonymous payment systems for the internet. Trustcash developed
a business based on the sale of a virtual stored value card that can be
used by consumers to make secure and anonymous purchases on the internet.
The company markets its Trustcash(TM) payment card, which is sold in
denominations ranging from $10 to $200 online.
Cautionary Statement Regarding Forward-Looking Statements
A number of statements contained in this press release are forward-looking
statements. These forward-looking statements involve a number of risks and
uncertainties, including the sufficiency of existing capital resources,
technological changes and uncertainties related to the development of
Trustcash's business model. The actual results Trustcash may achieve could
differ materially from any forward-looking statements due to such risks and
uncertainties.
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