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CyberCash or EFT?

What's the difference between CyberCash (electronic cash) and ETF (Electronic Fund Transfer)?

They seems fundamentally the same. Some say electronic cash is the newer version of EFT and is better for B2C while EFT is for internal payment.

Should I use both services?

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CyberCash is a company that allows e-commerce merchants to connect to their bank through the Internet when selling either B2B or B2C. It essentially supports credit and debit card payments.

Electronic Funds Transfer Systems (EFTS) allow for all forms of financial transactions over the Internet, both private and public. For example, when a company transfers money from its bank account to the payroll account and then to the individual banks of its employees it is doing EFTS.

Under the heading of e-business both CyberCash and EFTS fall.

This was first published in February 2005

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