CyberCash, Inc. was an internet payment service for electronic commerce, heaquartered in Reston, Virginia. It was founded in August 1994 by Daniel C. Lynch (who served as chairman) and William N. Melton (who served as president and CEO, and later chairman). The company initially provided an electronic wallet software to consumers and provided software to merchants to accept credit card payments. Later they also offered "CyberCoin", a micropayment system modeled after the NetBill research project at Carnegie Mellon University, which they later licensed. Despite a trial with ESPN.com, CyberCoin never took off, and the focus remained on providing software for consumers and merchants to process credit card payments.