Cybercash Inc. has teamed with Price Waterhouse LLP to help banks and merchants develop electronic bill payment services for the Internet.

Price Waterhouse will provide Reston, Va.-based Cybercash with consulting, marketing, and systems integration support.

Richard Crone, vice president at Cybercash, said his company is focused on a "biller-direct model," which would preserve the role of banks in the bill payment process.

He said banks risk being squeezed out of portions of the billing process by some other billing models, including the one expected to be used in the new Microsoft Corp./First Data Corp. venture.

Cybercash formed a similar alliance with Coopers & Lybrand last month.

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