CyberCash and Online Resources & Communications have announced that they will test a "virtual automatic teller machine", allowing customers to load value (credits) into their CyberCash wallet from their bank account over the Internet.
The wallet will be "bank-branded" and loaded with real-time cash which customers can use in the same way as a credit card. The limit is determined by how much cash is in their account and they can load more credits when needed.
The pilot begins next month with a couple of banks and is expected to be expanded by mid-year. The deal will eventually allow Online Resources & Communications to provide a swiping system that will load credits onto a card.
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