Internet payment company CyberCash Inc said Tuesday that it has promoted president and chief operating officer James Condon to CEO. He replaces founder William Melton, who will retain his other position as chairman of the board. Melton has also pledged to invest an additional $10m of his own money in the Reston, Virginia-based company.
Separately, CyberCash announced an extension of its relationship with IBM Corp to offer its CashRegister online payment services to medium-sized companies through IBM’s WebSphere Payment Manager (see separate story). The CashRegister service will be accessed from a cassette built for Payment Manager – formerly called Payment Server – which will be sold by IBM’s North American sales team and its business partners.
