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October 15, 1998

CYBERCASH WINS FIRST USA AS FIRST INSTABUY LICENSEE

By CBR Staff Writer

CyberCash Inc got a major endorsement yesterday from credit card issuer First USA for its InstaBuy one-click shopping service. InstaBuy is the first component of the company’s Agile Wallet technology (08/20/98) and this is the first customer CyberCash has been able to reveal. Next week the company will announce some technology partnerships with companies combining InstaBuy with their own technologies, one of whom is expected to be the new UK- based shopping tool vendor Tax Interactive (10/14/98). InstaBuy enables a merchant to capture buyers’ information the first time they make a purchase and then any time they make a purchase at any other merchant in the InstaBuy network, the buyer simply verifies that the information is still correct and makes the purchase with one click. CyberCash executive VP Dennis Yaro says the SET implementation of InstaBuy was sent to Secure Electronic Transaction LLC for SET Mark verification several weeks ago, but no new payment options are expected before the new year; it still a credit card year, he says. Next year the company also plans to support micropayments with InstaBuy.

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