Got this email. Cybercash is going into the toilet. So, what other online credit card processing companies are out there? > CyberCash Restructuring Letter to Customers > > > March 2, 2001 > > To Our Valued Customers: > > As many of you know, on December 14, 2000, CyberCash announced > its intention to merge with Network 1 Financial Corp., a premier supplier > of payment processing systems and Internet payment services, to create > a single entity to offer the industry's most fully integrated payment > solution for both Internet and physical world merchants. The > combination of CyberCash and Network 1 would enable CyberCash to > offer its customers a one-stop solution for payment processing and > merchant account services packaged for simplicity and economy. > > While we have made tremendous strides over the last several months in > completing the merger, conditions in the capital markets prevent > CyberCash from completing the financing necessary to close the merger > as planned. > > In light of these events, the companies have terminated their existing > merger agreement and have entered into an asset purchase agreement > under which Network 1 will acquire all of CyberCash's operating assets. > As part of this strategy, CyberCash today elected to utilize the > procedures offered by Chapter 11 of the U.S. Bankruptcy Code. > > Please rest assured that we will continue to provide the same high > quality customer service that has made us the world leader in payment > processing. As these plans develop, we will send you additional > communications. > > For more information, please go to > http://www.cybercash.com/restructure. > > Sincerely, > > Daniel Lynch > Chairman and CEO > CyberCash Inc. -- Bob Tanner <tanner at real-time.com> | Phone : (952)943-8700 http://www.mn-linux.org | Fax : (952)943-8500 Key fingerprint = 6C E9 51 4F D5 3E 4C 66 62 A9 10 E5 35 85 39 D9