First Virtual
A pioneer in digital money, founded in 1994 by First Virtual Holdings, Inc., San Diego, CA. As the first online payment company, customers had to establish an account with First Virtual using a credit card. To make an online purchase, the customers sent their First Virtual ID number to the participating vendor, who in turn e-mailed First Virtual and the customer for confirmation. The money was then transferred to the vendor via the Automated Clearing House (ACH).
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