ATLANTA, GA--(Marketwire - 07/09/10) - TrustCash Holdings, Inc. ("TrustCash" or the "Company") (Pinksheets:TCHH - News) proudly announces that clients have begun to provide TrustCash Deposit as a payment method to their customers.
Claudio Lai, President of TrustCash, commented: "We are pleased to now have our clients commence the offering of our patent pending TrustCash Deposit technology to their users. We believe TrustCash Deposit can be a great way for online merchants to build their businesses."
TrustCash Deposit is the smart way for merchants' customers to pay for their online invoices in person and can be supported by all major banks in their respective geographic markets. With TrustCash Deposit merchants are guaranteed to receive their funds with none of the risks associated with credit card processing. (http://www.trustcash.com/products/trustcash-deposit/)
As the Internet continues to take an ever-greater market share of global retail revenues, the payments industry must continue to innovate and adapt to the evolving needs of both consumers and businesses. The following provides some detail to the market opportunity present for the TrustCash Deposit product:
•According to forecasts made by research firm eMarketer, US retail e-commerce sales will jump by 12.7 percent year-over-year during 2010 and reach USD 152.1 billion. 92 percent of those surveyed by the e-tailing group predicted their 2010 e-commerce revenues would climb from last year, with 33 percent of respondents projecting an increase between 6 percent and 15 percent.
•In 2010, the number of US customers who will research products online is projected to reach 162 million, with 82 percent of online researchers, accounting for 133 million people, turning into online shoppers. Sales in the online travel sector will grow by 4.6 percent annually and total USD 92.5 billion in 2010. Online retail and online travel will register USD 244.6 billion in 2010, growing at a 9 percent compound annual rate from 2009 to 2014, the same source indicates.
•eMarketer also states that in the next two years, e-commerce growth is expected to continue at the same pace, indicating that the economy is on its road to recovery. By 2012, e-commerce sales are to jump to USD 189.9 billion, up 11 percent year-over-year.
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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.
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