TrustCash to Add Electronic Check Feature Known as ACH

Mon Jul 6, 2009 8:01am EDT
 
[-] Text [+]
  ATLANTA, GA, Jul 06 (MARKET WIRE) -- 
TrustCash Holdings, Inc. (PINKSHEETS: TCHH) today announced it has been
working with representatives from Electracash to add Electracash's ACH
processing functionality to its suite of services.

    The addition of ACH is an important step in broadening the marketability
of the Trustcash payment system. This advance will provide Trustcash the
opportunity to tap into the large ACH processing market.

    The following provides some insight into the business of ACH processing:

    1. What is ACH? According to NACHA (the electronic payments association,
www.nacha.org):

    The Automated Clearing House (ACH) Network

    The ACH Network is a highly reliable and efficient nationwide
batch-oriented electronic funds transfer system governed by the NACHA
OPERATING RULES which provide for the interbank clearing of electronic
payments for participating depository financial institutions. The Federal
Reserve and Electronic Payments Network act as ACH Operators, central
clearing facilities through which financial institutions transmit or
receive ACH entries.

    ACH payments include:


--  Direct Deposit of payroll, Social Security and other government
    benefits, and tax refunds;
--  Direct Payment of consumer bills such as mortgages, loans, utility
    bills and insurance premiums;
--  Business-to-business payments;
--  E-checks;
--  E-commerce payments;
--  Federal, state and local tax payments.
    

    
The number of ACH payments originated by financial institutions
increased to 8.05 billion in 2002, up 13.6 percent from 2001. These
payments were valued at $21.7 trillion. Including payments originated by
the Federal government, there were a total of 8.94 billion ACH payments
in 2002 worth more than $24.4 trillion.

    2. In an industry article the website www.ACOM.com declares: "ACH: The
Paperless Payment Solution for Today"

    In 2000, 41.9 billion checks were issued, compared with 36.7 billion in
2003, a compounded annual rate of decline of -4.3 percent. During the same
period, ACH payments grew from 6.2 billion to 9.1 billion, a 13.4 percent
compounded annual growth rate. Significantly, while total payments
continued to increase, the ratio of checks to ACH payments continued to
favor ACH and the trend continues. According to current NACHA reports,
there were nearly 14 billion ACH payments in 2005, an increase of 16.2
percent over 2004.

    Entire article can be viewed at:
http://www.acom.com/windows/collateral_win_WP02.html

    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.

    

Contact
TrustCash Holdings, Inc.
Shareholder Communications
1-800-975-5196

Copyright 2009, Market Wire, All rights reserved.

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