e-cash


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Related to e-cash: Digital cash

e-cash

(1) See digital coins.

(2) (eCash) An earlier Web payments service developed in the 1990s by Amsterdam-based DigiCash, Inc. It used a blind signature encryption method and required an active account from an eCash member bank. Digital coins were stored in the eCash Purse digital wallet on the customer's computer, and coins were deducted from the wallet when a purchase was made at eCash-compliant sites. The system was regulated by adding a serial number to each coin. When the merchant received the coins, they were sent to the customer's bank for verification. If a coin matched the serial number of a coin that had already been spent, fraudulent activity was detected.

Despite this innovative system, not enough banks participated for its success, and in 1999, eCash Technologies, Inc. acquired DigiCash. In turn, eCash was bought in 2002 by InfoSpace, Inc., Bellevue, WA and absorbed into its payment solutions unit. See Web payments service.
References in periodicals archive ?
PASMO: combining Passnet and the joint Tokyo area bus pass from March 18, 2007 Management of PASMO SUICA, Passnet, Joint Buss Pass (Data for July 2003) SUICA and PASMO Joint equipment for SUICA and PASMO PASMO and SUICA as e-cash Marketing PASMO: Pasmo-Robot Character Icoca
With a smart card or e-cash, the consumer has what might be called negative float: the stored value may sit for days or weeks before being used and earns no interest the entire time.
Under the E-Cash system, site visitors download funds to pay for occasional Web charges from their checking account into an E-Cash Internet account.
It costs QR20 to purchase an e-cash card and they can be bought from many QNB branches around the country.
Sulaiman Al Harthy, Group Deputy General Manager Eoe1/4" Consumer Banking, BankMuscat, said in a statement: Eoe1/4EoThe e-Cash card is anther step toward achieving the governmentEoe1/4aos vision of promoting card as the mode of payment.
The E-cash and Cash-plus cards are designed for consumers," explained Hadi.
infinia provides Softwrap with a secure and complete e-cash solution including credit card acquiring, the clearing of funds, fraud control, transaction processing and all related financial aspects of the business.
To secure their e-cash, they will be required to answer a series of questions requested by the manufacturer for marketing purposes.
Talk of e-commerce and e-cash inevitably raises the question: Will paper money--like the adding machine--one day become obsolete?
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20/20 investigates the growing phenomenon of e-cash, e-wealth and easy living.
The fare will automatically deduct from the e-cash purse stored on the chip, eliminating the last-minute search for the exact fare amount or the time-consuming wait for change from the tollbooth operator.