Las Vegas, Nevada (PressExposure) October 12, 2009 -- Las Vegas CRWENews.com is pleased to announce a stock highlight -Consorteum Holdings, Inc. (OTCBB: CSRH) announced today October 14, 2009 that it has launched its mobile check cashing program. The introduction of this service will offer those that are currently using check cashing facilities a much more convenient way to cash their payroll checks. After two years of development with its partners, Consorteum has now proceeded to the pilot phase of its check cashing program in the Toronto, Ontario region. The first stage of the pilot implementation will be the deployment of this new service on several trucks.
The drivers will be able to offer their clients the convenience of real-time check cashing services and load customer funds directly onto a personalized prepaid Credit Card right at the mobile truckâs location.
Quent Rickerby, President & COO of Consorteum Holdings Inc., said, âConsorteum has been very eager to deploy this program and sees significant growth and opportunity within the check cashing industry. Not only are we bringing the convenience of a check cashing service to the customer directly, but weâre also mitigating the overhead costs of a brick-and-mortar store front.â
Consorteum will charge the customer a percentage of the value of the check as a convenience fee for processing the transaction. It is expected the program will be fully deployed across other regions of Ontario in early 2010 and generate significant transactional volumes for the company within a year. The program is expected to expand into several U.S. regions in late 2010.
Rickerby went on to say, âToday there are approximately 13,000 check cashing stores in the United States which collectively process $80 Billion worth of checks annually. The average payroll check today is anywhere from $500 to $600 each. With such a large market to capitalize, we anticipate the launch of this program to substantially increase our revenues as well as shareholder value.â
About Consorteum Holdings Inc.
Consorteum Holdings Inc. will build on its extensive expertise within the Payments and Transaction Industry in North America, Europe and Internationally. By identifying new technologies and trends in the changing global marketplace, Consorteum Holdings Inc. aims to increase revenues in existing markets, enter new markets, and deliver unique products and services more effectively and efficiently. Consorteum Holdings Inc. has built its reputation with one goal, âFor our customers to look at us as partners, not just a technology provider.â For more information, please visit: http://www.consorteum.com
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Forward-Looking Statement: This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements and/or Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.