SOURCE: Trustcash

TrustCash

May 19, 2010 16:15 ET

TrustCash Initiates Infrastructure Expansion Required to Support Mobile Commerce Development and Rollout; Worldwide Market for Mobile Payments Will Grow to $633.4 Billion by 2014

ATLANTA, GA--(Marketwire - May 19, 2010) -  TRUSTCASH HOLDINGS, INC. ("TRUSTCASH" or the "COMPANY") (PINKSHEETS: TCHH) today announces that with the assistance Alligato, Inc. the Company has doubled the size of its technology infrastructure.

Specifically, TrustCash has deployed its core technology infrastructure within a strategic development lab. The infrastructure deployment consists of enterprise level Hewlett Packard (HP) hardware and enterprise versions of JAVA technologies. The design of the platform is to be operating system agnostic currently set up within a Linux/Unix environment. All technologies have been acquired by the Company to implement the proprietary TrustCash end-to-end mobile commerce platform.

The Company believes that this achievement puts it on track for its entry into the burgeoning mobile payments market.

The Following article further confirms TrustCash's strategy:

  • The worldwide market for mobile payments will grow to $633.4 billion by 2014, up from $68.7 billion in 2009, according to a new report by Generator Research. Meanwhile, mobile payment users will grow 600 percent to 490 million in 2014 from 81.3 million last year. Using your phone or your phone number to exchange money is convenient for everyone but especially the "underbanked." Whether it's payment dongle Square launching this week, Zong raising $15 million late last month on the strength of its virtual goods business on Facebook, or the fact that my dinner party companions last night settled the bill using Venmo, mobile payments are finally part of the present rather than the hazy projected future.
  • http://gigaom.com/2010/05/13/mobile-payments-to-reach-633b-by-2014/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+OmMalik+%28GigaOM%29&utm_content=Google+International

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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