cybercash - Computer Definition
A web payment processing service from CyberCash, Inc., Oakland, CA that allowed merchants to process credit cards and initiate direct transfers from customer checking accounts. Merchant transactions were sent to CyberCash servers which accessed the credit card networks and Automated Clearing House (ACH). In addition to its back-end payment processing, CyberCash also provided the InstaBuy digital wallet service that fills in the forms at any online shopping site. One of the earliest (1995) payments systems on the Internet, CyberCash itself ran into financial trouble and declared bankruptcy in early 2001. Its North American operations were acquired by VeriSign, Inc., while its software assets were acquired by First Data Merchant Services Corporation. See Web payments service.
cybercash - Investment & Finance Definition
A commercial payment system whereby a user digitally purchases cash credits and then spends them when making electronic purchases over the Internet. Most merchants accepting digital cash use it as an alternative to other forms of payment, such as credit cards. Cybercash had its heyday during the Internet boom of the late 1990s.