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Trustcash to Enter Into Mobile Payments Market Estimated at Over 70 Million Users(July 15, 2009)
ATLANTA, GA -- (Marketwire) -- 07/15/09 -- Trustcash Holdings, Inc. ("Trustcash") (PINKSHEETS: TCHH) today announces it has begun the process to become a leader in the fast growing mobile payment solutions market.
The mobile payment industry will experience steady growth, as the number of mobile payment users worldwide will total 73.4 million in 2009, up 70.4 percent from 2008 when there were 43.1 million users, according to Gartner, Inc.
Gartner also predicts that the number of mobile payment users will reach more than 190 million in 2012, representing more than 3 percent of total mobile users worldwide and attaining a level at which it will be considered "mainstream."
The market for online payments via mobile is being driven by the rapid, global growth of mobile and PC-based social networks, dating sites, virtual goods and games, the popularity of mobile applications, and the large number of unbanked customers who have access to mobile phones, but not credit cards or bank accounts. With over 1 billion applications served (according to techcrunch), the iPhone has changed how people use and relate to their phones. On Facebook, 200 million users can now access over 135,000 virtual applications and games. The key to maximize conversions in the marketing of digital entertainment is the ability for the online merchant to ensure instant gratification and ease of payment for the user.
Users are increasingly choosing SMS mobile payments for micro-transactions on social networks, mobile and social network applications, mobile purchases, dating and gaming sites (it fills the void while they wait for lower cost direct billing options).
These factors, plus many others, further strengthen the business opportunity for TrustCash to further enhance their platform to pursue being a leader in mobile payments to remove the current market disparity in mobile payment processing.
The first step in the Trustcash process is to build an expert team which the Company has begun by developing relationships with key industry players and consultants.
Secondly, the Company anticipates it can deploy a solution in relatively short order and begin providing its mobile service to existing clients and new ones, therefore taking advantage of the revenue potential mobile provides.
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. The Trustcash(TM) card is the only "stored value card" produced where no personal data is stored by or available to a vendor or merchant, providing a unique level of both security and privacy to the purchaser.
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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