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To: LTBH who wrote (9872)	6/1/1998 2:00:00 PM
From: Jenna	Read Replies (1) \| Respond to of 120523

CYCH... no bad news rather things seem to hopping along .. CyberCash and Edison Electric Institute Team up to Enable Customers <CYCH.O> CyberCash and Edison Electric Institute Team up to Enable Customers to Pay Bills on the Internet CHICAGO--(BUSINESS WIRE)--June 1, 1998-- Electronic Commerce Payment Solutions Provide Added Value for Utilities CyberCash Inc. and the Edison Electric Institute (EEI) Monday announced the availability of secure Internet payment services to EEI's electric utility industry members at a significant discount. At EEI's Annual Convention/Expo in Chicago today, CyberCash is scheduled to formally introduce the CyberCash PayNow(TM) Secure Electronic Check Service, which will enable EEI member companies to receive payments from consumers over the Internet. The agreement provides EEI members with the option of incorporating the CyberCash PayNow(TM) Secure Electronic Check Service into their Internet strategies The CyberCash program gives billers direct access to consumers without a third party billing intermediary. This empowers billers to control their own billing, leverage their brand identity and strengthen their relationships with their own customers. The agreement allows all EEI members, which include over 120 of the largest electric utility companies in the country, to receive rebates by signing up for CyberCash's PayNow Secure Electronic Check Service. With the CyberCash program, EEI provides value added services to its members by being on the cutting edge of bill payment technology. Members gain because EEI provides them access to electronic technology at a lower cost. "Our recognizing CyberCash as a provider for electronic bill payment services indicates that Internet bill payment is coming of age," said Jon Arnold, chief technology officer for EEI. "Electronic bill payment is a strategic decision for our utility membership. They are all looking at it. CyberCash came to us with a creative solution that works for us, our members and the market as whole. It is a great option for our members to consider as they move forward with their Internet strategies." Electric companies collect almost $200 billion annually. Using the Internet to link directly to the customers they serve and to automate customers' remittances can cut processing costs significantly. "More than 37% of all households in America use some form of direct payment, accounting for approximately 1 billion electronic payments that are completely controlled and branded by billers," said Nancy Goldberg, vice president of the Internet bill payment services division of CyberCash Inc. "CyberCash as an Internet payment option for EEI members reinforces the biller's franchise and brand with the added benefit of allowing customers to initiate their own direct payments for electronically presented bills." The CyberCash PayNow Secure Electronic Check Service enables consumers to pay their bills directly on the biller's web site without going to a third-party concentrator or a home banking service. PayNow is one of the first to implement a solution for electronic bill payment. Billers may work with a CyberCash partner, choose their own partner or build their own presentment engine. PayNow works with any market solution. All consumers paying their bills need is access to the Internet and a Web browser. "Billers are embracing the Internet as a medium that provides timely information to consumers, reduces costs and offers the opportunity for creative marketing to their best customers. Our program with EEI will help accelerate our strategy of empowering billers to implement electronic bill presentment and payment," said Richard Crone, vice president and general manager of PayNow. About The Edison Electric Institute EEI is the association of the nation's investor-owned electric utilities and industry affiliates and associates worldwide. EEI's members generate approximately three quarters of all the electricity generated by electric utilities in the United States and serve about the same portion of all ultimate electricity customers in the nation. About CyberCash Inc. CyberCash Inc., headquartered in Reston, Va., is a pioneer and leading provider of payment software and services - globally. The company offers a complete suite of Internet payment solutions including a payment card service which supports credit, debit and purchase cards, an innovative electronic cash service which enables micro payments and other cash transactions and a secure electronic check service which allows consumer-to-business and business-to-business payments from a bank account. CyberCash is traded on the Nasdaq Stock Market, under the symbol CYCH.