e-cash


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Related to e-cash: Digital cash

e-cash

(1) See digital coins.

(2) (eCash) An earlier Web payment 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 payment service.
References in periodicals archive ?
In addition to food rations, refugees were provided with e-cash to purchase their own food to add diversity and choice to their diet.
We adopt e-cash payment pattern, which includes the communications among P, D, OTN, and TPP:
Based on the majority of the existing approaches, we summarize that a secure e-cash system should satisfy the following requirements.
Comparison of important features among fair-exchange e-payment protocols Protocol/ Ray et Oniz et Lin-Liu[10] Alaraj-Munro Ours Property al.[11] al.[9] [17] a Yes Yes Yes Yes Yes b Yes Yes Yes Yes Yes c Yes Yes Yes Yes Yes d Yes Yes Yes No Yes e No No No No Yes f No Yes No No No g Yes No Yes No No h Yes Yes * Yes Yes No a: True fairness b: Automated dispute resolution c: Product validation d: Customer Anonymity e: Customer Unlinkability f: Implementation requirement for Secure Electronic Transaction (SET) g: Implementation requirement for e-cash system h: Storage requirement for decryption keys on the arbiter Yes Oniz et al.'s protocol requires few keys for dispute resolution on the arbiter by using key chain *: mechanism.
The e-Cash card is available to all corporates in Oman and the top-up facility will be available at BankMuscat branches.
Currency Medium of exchange Yes Yes Checking deposits Medium of exchange Yes Yes E-cash E-briefcase Yes Yes Stored-value cards E-wallet Yes Yes Checks Permit No No E-checks E-Permit No No Debit cards ID/Permit No No Credit cards ID/IOU No No Money orders Receipts No No Cashier checks Receipts No No Traveler's checks Receipts No No
Secondly, there is no reason why a central bank cannot issue e-cash instead of paper cash if e-money substitutes cash.(9)
Three categories, Financial Services (banking, stocks e-cash and shares), Navigation/Location (excluding modules and telematics) and Entertainment (online/download, games, audio and video), with widely different 1999 user counts, are all expected to grow sharply and enjoy somewhat the same number of users in 2005.
Talk of e-commerce and e-cash inevitably raises the question: Will paper money--like the adding machine--one day become obsolete?
The latest wave of e-cash companies promises to help purveyors of these low-ticket items increase their sales volume by making it easier for customers to pay for their orders.
Funds are stored in electronic form on either cards-"stored-valued cards"-or on computers-" e-cash." Stored-value cards can be either multipurpose (open-system) cards that are used to make a variety of payments or single-purpose (closed-system) cards that are used more narrowly.
20/20 investigates the growing phenomenon of e-cash, e-wealth and easy living.