From EduPage, 09/13/94:

Payday on the Internet

A new company called CyberCash hopes to break the impasse in conducting commercial transactions over the Internet by offering a secure electronic payment system. "We want to make the Internet safe for commerce... and provide safe passage from cyberspace into the banking world," says the company's president and co-founder. CyberCash will allow users to ask their banks to set aside money in a "digital purse." The funds are then transferred to the merchant when an item is purchased. CyberCash would receive a small fee for each transaction. The company is still working on security measures, and must persuade banks that the system protects privacy and is tamper-proof.

(Wall Street Journal 9/13/94 B1)