Cybercash Inc.'s bid to buy ICVerify Inc. would give it a commanding presence at the payment processing end of the nascent electronic commerce market, observers said.

Cybercash, of Reston, Va., announced last week that it would pay $57 million in cash and stock for ICVerify, an Oakland, Calif.-based company that develops merchant software for authorizing credit and debit card payments at the point of sale.

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