CyberCash Files for Bankruptcy
Associated Press
CyberCash Inc., which processes credit card transactions for online merchants, filed for federal bankruptcy protection because it was unable to secure financing necessary to complete a merger. The Reston, Va., company had hoped to merge with Network 1 Financial Corp. of McLean, Va. Network 1 plans to buy all of CyberCash’s operating assets. Other businesses will be able to make competing bids.
