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CyberCash is a step further towards a more fully realized "virtual money" system. Headquartered in Reston, Virginia, the company was founded in August, 1993, by Bill Melton, the same man who founded Verifone, the dominant force in merchant credit-card clearance systems. Jim Bizdos, president of RSA Data Security, is also a principal. CyberCash appears to be an outfit that has its act together, although precisely what this act is remains a bit hazy. They tout their services as the "convenience of checks with the reliability of cash."