Saturday, March 3, 2012

Cybercash begins test of virtual 'check': electronic wallet item can be used to buy goods or pay bills.

Cybercash Inc. began a pilot this week of a virtual "check" that consumers can use to pay bills and buy goods on the Internet.

The announcement of the PayNow Secure Electronic Check test means all three components of the company's virtual wallet are in action. Cybercash customers already can pay certain Internet merchants using credit cards and digital coins.

During the pilot, four bill-payment processing companies in different parts of the country will enable consumers to pay certain utility bills on line with electronic checks.

Customers of these companies can look up the World Wide Web site of their local gas or telephone company, click on a bill-paying icon, and will then be offered the option of paying with a PayNow …

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