Cybercash Definition

Cybercash is a generic term that became popular in the late 1990s; it describes funds that are available via electronic means, as opposed to physical funds such as paper money or coins. For example, a person might auction personal assets using an internet site, receive payment via an internet payment service, transfer the funds to an internet banking account, and then use the funds to pay an online vendor. In all this exchange, no physical money was involved. Instead, all of the transactions utilized cybercash.