Trustcash Completes Phase 1 of Plan for Its Mobile Payment Services; Global Mobile Payments Market Estimated at 860 Billion by 2
November 09 2009 - 4:50PM
Marketwired
TRUSTCASH HOLDINGS, INC. ("TRUSTCASH") (PINKSHEETS: TCHH) 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.
Contact: Trustcash Holdings, Inc. Shareholder Communications
Email Contact: Email Contact 1-800-975-5196
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