VeriFone Inc says it is paying $4m for its interest in Internet financial services start-up CyberCash Inc (CI No 2,731), and will get a stake of about 10% for its cash. Reston, Virginia-based CyberCash aims to facilitate commerce on the Internet by providing secure payment channels. CyberCash, founded a year ago, has already developed relationships […]
VeriFone Inc says it is paying $4m for its interest in Internet financial services start-up CyberCash Inc (CI No 2,731), and will get a stake of about 10% for its cash. Reston, Virginia-based CyberCash aims to facilitate commerce on the Internet by providing secure payment channels. CyberCash, founded a year ago, has already developed relationships with such financial institutions as Wells Fargo & Co and American Express Co. The companies say they may look to integrate CyberCash’s Internet payment processing software into the Internet commerce software being devel oped by VeriFone, of Redwood City.
