SOURCE: Trustcash

March 08, 2010 16:15 ET

Trustcash to Enter Multi-Billion Online Bill Payment Market With TrustcashDirect Solution

ATLANTA, GA--(Marketwire - March 8, 2010) -  TRUSTCASH HOLDINGS, INC. ("TRUSTCASH") (PINKSHEETS: TCHH) today announces that through its TrustcashDirect service it will enter the online bill payment market.

The online bill payment market, also known as the electronic bill presentment and payment (EBPP) market, is a massive segment of the online payment services industry and market.

The following statistics indicate the significant opportunity Trustcash has:

  • According to an October 2009 report from AITE Group. The aggregate amount of consolidator bill payments will rise from US$665 billion in 2008 to US$678 billion in 2009.
  • According to a 2009 First Data white paper, a full two-thirds of all bills are expected to be paid electronically by 2012 -- up 20 percent from 2007 -- with most of the growth destined for Web and phone applications.
  • Over 2.07 billion online bill payments will be processed in 2009, according to an October 2009 report from AITE Group.
  • The use of online bill payment by banking customers is accelerating. Based on Jupiter research data, MODASolutions estimates that 48 million North Americans now pay bills online -- a number forecasted to reach 92 million by 2009.

TrustcashDirect has begun testing, as recently announced.

The Company looks forward to launching and commencing the marketing of this new service to grow its revenue and continue adding value for its shareholders.

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ABOUT TRUSTCASH

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.

Contact Information

  • Contact:
    Trustcash Holdings, Inc.
    Shareholder Communications
    Email Contact:Email Contact
    1-800-975-5196