A local internet service provider in New York City tells us that Cybercash, the e-commerce and credit card transaction processing firm, was having technical difficulties with its gateway server in Virginia all day yesterday, which was interrupting transaction processing during the peak of the holiday spending season.

All we know for sure is that Cybercash has its technicians working on the problem and that customers relying on Cybercash for transaction processing have been warned that shoppers will experience poor response time and timeouts as they attempt to make their purchases. As yet, Cybercash has not provided any estimated time when the problem will be corrected.