InfiniCash Inc. has exclusive license to an innovative database management system and Website, developed by the experts at EFG Solutions Inc.

The kernel of the system is a proprietary, secure system which also incorporates standard SSL (Secure Socket Layer) security. This secure system uses data encryption for storage, transfer, and transaction logging on the Web.

The I-Cash Card from InfiniCash is a pre-paid, value-tracked Internet cash card. The I-Cash Card is a secure payment system that does not require the transmission of any personal information, so the transaction is non-traceable, and non-disputable.

In much the same way as Consumers buy Phone Cards, the I-Cash Card can be purchased from a variety of suppliers (Vendors), including convenience stores, department and grocery stores, on the Internet, or through direct marketing channels, using any method of payment the merchants accept, including cash.

The I-Cash Card will be accepted as payment by Merchants selling products/services on the Internet, using familiar user-interfaces, with the additional trust factor of the security of non-personal data transfer.

The I-Cash Card is a plastic card, much like phone cards, and is embossed with a user ID and imprinted with a passcode, and issued in several denominations. These codes are generated using a multi-bit encryption system that links the ID and passcode to each other and stores them in the database. The passcode is covered with a latex scratch-off coating, and the cards are packaged in clear cellophane sealed wrappers.

The I-Cash Card will also be available through Cash Machines and ATMs. The cards will actually be dispensed in the form of printed receipts with the denomination, ID, and passcode on them

Internet shoppers will select the I-Cash Card as the payment method. Once they have chosen to pay with the I-Cash Card, they will be directed to a secure site, where they will input their user ID and passcode. THE ONLY DATA THAT IS TRANSMITTED IS THE PURCHASE AMOUNT – no personal data is transmitted!

The InfiniCash site will then access the master database, checking the validity of the card against the user ID and passcode data, confirm the available balance on the card, and then accept or reject the transaction. The value of the transaction, minus transaction fees and merchant discount, will be transferred to the merchant’s account, available for Electronic Funds Transfer to the merchant’s chosen financial institution.