Global Remittances Represent a Market Size of Approximately $300 Billion
ATLANTA, GA--(Marketwire - 07/23/09) - TRUSTCASH HOLDINGS, INC. ("TRUSTCASH") (Pinksheets:TCHH - News) today announces it has begun development of a technology component that will become a Trustcash transfer service. Essentially, this transfer service will allow remittances between Trustcash users.
Remittances, also known as money transfers are noncredit payments, which are often sent to a distant place.
A Washington Post Article in 2007 stated that -- "Migrants around the globe sent more than $300 billion to their home countries last year, a 'staggering' sum that surpassed foreign development aid and foreign direct investment."
The article also mentions that the sum of global remittances grows about 10 percent each year.
http://www.washingtonpost.com/wp-dyn/content/article/2007/10/17/AR200710170 2163.html?hpid=topnews
Trustcash management states that with our addition of ACH expected to be completed in the near future we have started developing our Trustcash to Trustcash transfer component. Trustcash members will be able to load their Trustcash account, transfer Trustcash "tokens" to another Trustcash member and that member will be able to redeem those tokens for cash and or use the tokens wherever Trustcash is accepted online.
The Company looks forward to completing this development and launching this service for its users to grow its revenue and continue adding value for its shareholders.
About Trustcash
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.
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