TrustCash Holdings, Inc. announced it will enter the online bill payment market through its TrustcashDirect service. The Trustcash platform delivers a sophisticated, comprehensive online payment processing system. Trustcash provides online businesses with payment solutions needed to be successful.

 

The online billing payment market, also known as the electronic bill presentment and payment market, is a segment of the online payment services industry and market. TrustcashDirect has begun testing of its service meant for this market.

 

TrustCash is looking forward to launching and commencing the marketing of its new service to grow its revenue. The online bill payment market provides a number of opportunities to TrustCash. This is evident since according to an October 2009 report from AITE Group, the aggregate amount of consolidator bill payments is expected to rise from $665 billion in 2008 to $678 billion in 2009.

 

A 2009 First Data white paper has also forecasted that a full two-thirds of all bills are expected to be paid electronically by 2012. Moreover, the use of online bill payment by banking customers is also on the rise. Based on Jupiter research data, MODASolutions has estimated that 48 million North Americans now pay bills online.

 

TrustCash is a dynamic currency provider capable of filling the gap between the “cash in the user’s wallet” and the “cash-register of the online store” the user wishes to purchase items from by creating a completely private and absolutely secure transaction. TrustCash eliminates the need for entering credit information into a Web site a user is not familiar with as well as the need to pass private data to the owner of that Web site. TrustCash can be used to complete a transaction without having to provide the user’s private personal information to the retailer.

 

TrustCash can be purchased through TrustCash’s secure website or through any one of its offline vendors. The TrustCash in a user’s account is assigned a unique account number. This number is then used at retail websites for any items that the user would normally purchase with his credit card. However, instead of entering his credit information, the user need only enter his anonymous TrustCash account number to authorize the transaction. TrustCash will then pay the vendor by deducting funds from the user’s account without anyone knowing who the user is, what he purchased or any other personal information.