DEFINITION of 'eCash'

An Internet-based system that allows funds to be transferred anonymously. Similar to credit cards, eCash was free to users, while sellers paid a fee. Because of security concerns, eCash remains more of an idea and less of an actual payment system.

BREAKING DOWN 'eCash'

eCash uses blind signatures (a type of digital signature where the message's content cannot be seen before it is signed) so no link could be made between withdrawal and spend transactions. The system was used by one bank in the United States, the Mark Twain bank; however, the system was dissolved in 1997 after the bank was purchased by Mercantile Bank. eCash was a trademark of DigiCash, a firm that went bankrupt in 1998 and was sold to eCash Technologies. eCash Technologies was acquired in 2002 by InfoSpace.

RELATED TERMS
  1. Securities Transfer Association ...

    A verification system used by many different institutions to ...
  2. Anonymous Trading

    Bids and offers that are visible on the market but which do not ...
  3. Electronic Meeting System - EMS

    A computer-based system that stimulates problem-solving and decision-making ...
  4. Division Of Reserve Bank Operations ...

    An entity under the Federal Reserve System that manages certain ...
  5. Signature Loan

    A type of personal loan offered by banks and other finance companies ...
  6. Late Fee

    A charge a consumer pays for making a required minimum payment ...
Related Articles
  1. Personal Finance

    A Day In The Life Of A System Trader

    Systems traders divide their time between trading, developing, backtesting, optimizing and forward testing, to create viable and high-probability trading systems.
  2. Personal Finance

    Credit vs. Debit Cards: Which Is Better?

    Be strategic about the card you choose
  3. Personal Finance

    Take Control Of Your Credit Cards

    The plastic in your wallet doesn't have to hurt your finances. Learn how to manage it responsibly.
  4. Personal Finance

    0% Balance Transfers: Can You Beat the Odds?

    Before you accept that 0% balance transfer offer, understand why you got it and who will probably profit most. Only accept if you can beat the odds.
  5. Personal Finance

    3 New Types Of Credit Cards To Look For

    These three types of credit cards are becoming popular with customers looking to pay less fees and build up their credit scores.
  6. Personal Finance

    7 Factors For Comparing Credit Cards

    It's good to find a credit card that fits your lifestyle, but read the fine print to make sure you're not overpaying for the benefits.
RELATED FAQS
  1. What is the difference between a capitalist system and a free market system?

    Learn about capitalist and free market systems, how these economic systems function and the main difference between capitalism ... Read Answer >>
  2. What's the difference between a balance transfer and a cash advance?

    Learn how balance transfers and cash advances differ, how these transactions can both benefit and hurt your finances, and ... Read Answer >>
  3. Where are secured credit cards accepted?

    Repair a damaged credit history or establish one by opening a secured credit card account with a collateral deposit into ... Read Answer >>
  4. How can I avoid paying unnecessary credit card fees?

    Examine different strategies for reducing fees on credit cards. Learn about the Consumer Financial Protection Bureau and ... Read Answer >>
  5. Can I use a prepaid credit card to pay bills or to transfer money to other accounts?

    Learn how prepaid credit cards enable convenient bill payments and transfers. Explore different fees charged for such transactions. Read Answer >>
Trading Center