Being a bank-centric product in a highly competitive market, Digicash
aims to impose the most efficient m-payment model on the European market together with banks.
Declan McCullagh, Digging Those Digicash
Blues, WIRED NEWS (June 14, 2001), at http://www.
Founder and former CEO of DigiCash
David Chaum was a pioneer in the field who recently reinvented himself with eCash Technologies after DigiCash
filed Chapter 11.
An early, unsuccessful example was a program developed by DigiCash
Oh, no -- he forgot to wire the digicash
for his monthly subscription download fee.
David Chaum (1996), president of the DigiCash
Corporation and an expert cryptographer, has pointed out a shortcoming of the Mondex system (a competitor to DigiCash
's smart-card system): Mondex allows person-to-person transfer, which opens the possibility of the total collapse of the Mondex system if an organized criminal group were to compromise the security of one card.
Small dollar transactions - micropayments - on the internet failed because the solutions, including Cybercash's Cybercoin, DigiCash
and DEC's Millicent were overdesigned, clunky or required the customer to load digital money on their PC, says Cha
Major products include eCash by DigiCash
and CyberCoin from CyberCash.
Thus, you could plug in modules, such as DIALOG, FOLIO, DigiCash
, and an image database.
Any given vendor or customer may implement payment through a variety of payment schemes, such as First Virtual, DigiCash
, or one of several credit cards.
There are several new technologies used for selling products on the Web, such as electronic cash, digicash
, and encrypting credit card numbers.
These systems also must interface with your EDI and accounting systems, and to any third-party payment authentication systems like American Express, MasterCard, and Visa, or emerging Internet virtual money and payment mechanisms like Cybercash, DigiCash
, or First Virtual.