General information General information Banks and clients are the members of the PayCash payment system. The system allows for many banks. In fact, independent local payment systems can be organized by many banks. Such local payment systems should not to be compulsorily connected to other PayCash payment systems. All the banks belonging to the system accept such a currency without any restrictions.
All users have equal rights from the banks point of view.
By sending messages via the Internet the Wallet cooperates with other Wallets in the system. In PayCash the client exchanges real money bearer digital obligations underwritten by the correspondent bank. It means, particularly, that PayCash is not a bank-client system, but a system of anonymous digital cash. For example, the PayCash system bank an not prohibit a client spending digital money at his or her discretion, other than by stopping all the operations within the system. To transfer money outside the system, the client gives a command to transfer a part or all the money from its PayCash account to a standard bank account or withdraw it in cash.