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Redmond, WA - June 20th, 2008-mCASH Holdings LLC launches the
mCASH Pending Payments program which provides merchants with the
ability to remove their bad debt. Merchants simply interface with
mCASH .NET web services and transmit order information to the mCASH
back office. Customers can open the Pending Payments module on their
mobile phone and approve orders by securely accessing the mCASH back
office. Once the order is verified with the customers PIN, the
verification is sent back to the merchant for final acceptance and
processing.
The release of mCASH's proprietary Pending Payments functionality is
a major milestone for the company. It's the first of its kind and
can virtually eliminate bad debt for all merchants who decide to use
the patent-pending technology.
Cody Hershey, CFO of mCASH Holdings says, "Credit Card fraud is a
billion dollar thorn in the side of all merchants all across the
world and the mCASH application virtually eliminates that exposure
using one simple and now patented process. Merchants can finally
rest at ease every month end knowing that their hard earned revenue
will stay revenue vs. becoming a significant expense."
Paris Holt, Chairman of mCASH further states, "The mCASH Pending
Payments process is a critical strategy for the company as it is the
first step in the company's international expansion plans as well as
diversifies its revenue portfolio from monthly license fees to a
more transaction fee model."
More information on mCASH and demos of the mSPACE application can be
found at: www.mcashholdings.com and
www.mCASH.net
About mCASH Holdings LLC
mCASH Holdings, LLC was initially established in 2006 by Seattle
based telSPACE, LLC as a program to increase customer loyalty
therefore decreasing customer churn for its 43+ Mobile Virtual
Network Operator (MVNO) clients. Given the current market potential,
telSPACE elected to spin off mCASH to provide additional focus and
expand the business independent of the MVNO market niche. Today,
mCASH has assembled a management team of industry veterans and is
recognized as one of the top innovators in cutting edge Mobile
Commerce Technologies and a leading provider of prepaid debit
products in the market.
Leveraging core telSPACE technology, mCASH has developed a unique,
powerful and feature rich mobile phone application called mSPACE.
This application is provisioned on a customer's wireless phone and
among other things allows customers to completely control and manage
their prepaid debit account anywhere, anytime.
About telSPACE:
telSPACE, LLC was founded in 1998 and is the leading Mobile Virtual
Network Enabler (MVNE) in the wireless industry. Through proven
knowledge and industry experience, telSPACE has developed the most
comprehensive and robust third-party billing and operating system
available. telSPACE is connected to all of the top wireless network
operators including: Verizon Wireless, AT&T Wireless, Sprint, and
T-Mobile. The company currently provides its full service billing,
rating, carrier provisioning and automation, call center customer
service, fulfillment, IVR and SMS services to 40+ MVNOs, which
doubles the reach of their competitors combined.
Contact:
D. Garth Billstin
mCASH Holdings LLC
garth@mcashholdings.com
Office: 425-284-1781
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