The PayCash Internet Payment System (PIPS) is comprised of three components: the PayCash Wallet (customer), the PayCash Account Manager (merchant), and the PayCash Cash Register (transaction management engine). All three components are highly scaleable and highly secure, with all cross-component communications accomplished via encrypted messages. Additionally, all transaction requests and replies are accompanied by an electronic signature, which eliminates non-repudiation (denial of charges).

The PayCash System offers a high level of identity protection, anonymity, and security for Internet shoppers. These unique features make the PayCash Internet Payment System very suitable for consumers who are unbanked or concerned with fraud and security.

PayCash's use of digital signatures completely eliminates unauthorized charge-backs, which provides security for the merchant. When combined with an industry low transaction fee, PIPS creates a compelling value proposition for merchants.  The PayCash Internet Payment System is also unique in that it easily accommodates micro-payments (portions of a dollar, or even portions of a cent), which makes it a perfect solution for purchasing ring tones, music, and other smaller-cost items where credit cards and charge cards are less desirable due to minimum transaction fees.