In 1996, Tavrichesky Bank of Russia began research toward an
ecommerce based, bank/customer payment processing system. In analyzing the
available payment alternatives, it became readily apparent that a new approach
was required to satisfy the objectives of a safe, anonymous, fast, and
effective payment system for the Internet. The design team began the
development and implementation of The CYPHERMINT Pay Cash System in
1997. By 1998 an early version of The CYPHERMINT Pay Cash System was
developed. In 1999, an extensive pilot project with a major international bank
was successfully implemented.
For the past two years, The CYPHERMINT Pay Cash System has undergone
meticulous testing within the rigors of ecommerce and now CYPHERMINT,
Inc. is pleased to offer the deployment of its industrial strength
“alternative Internet payment system.”
The CYPHERMINT Pay Cash System provides the most complete Internet
payment system for B2B and B2C ecommerce. The CYPHERMINT Pay Cash System
allows users to conduct ecommerce over the Internet with complete transaction
information security — coupled with comprehensive audit trails for
non-repudiation of transactions by both buyer and seller. The CYPHERMINT Pay
Cash System is a complete ecommerce payment system — handling payments
ranging from micro-payments to multimillion-dollar procurements.
The CYPHERMINT Pay Cash System is destined to become the preferred
"alternative Internet payment system" and CYPHERMINT is now forming
strategic business alliances with financial institutions, Internet portals, and
online merchants as part of its initial product launch.