The Cyber Cash Model

The Cyber Cash Model

Cyber cash acts as a conduit for transactions among Internet, merchants, consumers and banking networks. Merchants wishing to use cyber cash to securely process credit card transactions must establish a merchant account with a bank offering cyber cash PAY button.

When the customer completes a purchase and begins a cyber cash transaction by clicking on the cyber cash PAY button of a merchant’s World Wide Web site, the merchant receives information about the customer’s order, as well as an encrypted message from the customer’s cyber cash client.

The payments are signed and encrypted then sent through merchant bank to cyber cash, which in turn passes the transaction to merchant’s bank for processing. The digital wallet initially supported only credit cards, but now for small dollar amounts for products and services that are too expensive to justify using a credit card. With cyber cash the wallet is used to manage your credit cards. In a sense cyber cash process electronically presents your credit card payments to the merchant in the process just like the last time we physically pulled the card out of our wallet and presented it to a merchant.


Cyber coin money is placed in to an account at cyber cash and as we make cyber coin transactions money is pulled out from your wallet and sent to the cyber coin merchant’s wallet.


With cyber coin we electronically wallet essentially holds digital money which can be added to your wallet using credit card used for other transactions or our checking which can be linked to our wallet. The cyber cash client software manages all of this for consumer including setting up an identity or cyber cash persona linking credit card to that persona and keeping track of cyber cash transactions through a transaction log. Cyber cash security considerations- Cyber cash uses a combination of RSA public key and DES secret key technologies to protect and guarantee data through encryption and digital signatures. It uses full 768-bit RSA as well as 56-bit DES encryption of messages. All transactions are authenticated with MD5 a message digest procedure and RSA digital signatures.