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Trustcash Provides Update on Mobile Payment Market Strategy(October 06, 2009)
ATLANTA, GA -- (Marketwire) -- 10/06/09 -- TRUSTCASH HOLDINGS, INC. ("TRUSTCASH" or the "Company") (PINKSHEETS: TCHH) today confirms that the mobile technology initiative is a priority as our merchants have clearly expressed a growing demand for a Trustcash mobile solution initially as a web and iPhone enabled platform. This will be achieved with a second phase of development specifically covering the automated data interchange of secure and authenticated financial transactions between customers and merchants over a local, wired, or wireless electronic link.
This will enable a global mobile commerce solution that addresses all the key issues of security and interoperability with existing systems with capability to be used in every financial transaction as a low cost alternative to cash, potentially replacing all credit, debit, charge and smart cards.
The following recent industry articles and reports further validate the Company's strategy and confirm the future of the payment solutions industry is mobile payments.
-- The "Power of Mobile Money" article from the Economist -- http://www.economist.com/printedition/displayStory.cfm?Story_ID=14505519 -- Mobile Money :A $5 Billion Opportunity Report from www.gsmworld.com and related article from www.pcmag.com -- http://www.gsmworld.com/mmu/mmu_quarterly_update.pdf http://www.pcmag.com/article2/0,2817,2348730,00.asp
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.
Trustcash Holdings, Inc.
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