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TrustCash Completes Phase 2 of Plan for Its Mobile Payment Services; Global Mobile Payments Market Estimated at $860 Billion by 2013(April 23, 2010)
ATLANTA, GA -- (Marketwire) -- 04/23/10 -- TRUSTCASH HOLDINGS, INC. ("TrustCash" or the "Company") (PINKSHEETS: TCHH) today announces it has recently received the Software Development Plan (the Plan) from Ajay Hans completing phase two of the Company's planning and development of a comprehensive product for the Mobile Payments Market. The plan includes detailed description, technical diagrams and budget for the development of a single platform for WAP rendering, mobile billing, taxation and payments.
TrustCash Management stated: "On the heels of testing our product for the iPhone, reaching this milestone is a key step forward. Coordination of key personnel and development teams is the next step to ensure the successful execution of this software development plan."
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).
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."
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The TrustCash platform delivers a sophisticated, comprehensive online payment processing system.
The TrustCash technology infrastructure provides merchants with open access, PCI compliant payment processing. TrustCash is an E-Commerce expert providing online businesses with payment solutions needed to be successful.
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.
TrustCash Holdings, Inc.
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