Bill Melton is a founder and the chief executive officer of CyberCash, Inc. For more than 20 years, Mr. Melton has been an entrepreneur building companies around the application of computer and telecommunications technology to solve problems in the world of financial transactions. CyberCash is his fourth entrepreneurial venture in this arena.

In 1971 Melton founded Real-Share, Inc., a database and telecommunications company that provided services to the majority of Telecheck Franchisees. Through Real-Share, he pioneered the use of minicomputers, voice response systems and distributed processing nodes in the financial community.

In 1981 Mr. Melton founded VeriFone, Inc., the transaction automation company that has made credit authorization terminals ubiquitous on retail merchant counters. Mr. Melton still serves on the board of directors of VeriFone.

In 1991 Mr. Melton was the funding founder of Transaction Network Systems (TNS), a nationwide customized network dedicated to efficient transportation of financial transactions. TNS, which made a highly successful initial public offering in the spring of 1994, currently handles more than 3 million financial transactions daily. He still serves on the board of TNS.

In addition to his continued service on the boards of both VeriFone and TNS, Mr. Melton also is a member of the board of directors of America OnLine. He holds a master's degree in Asian Studies and Chinese philosophy.

Mr. Melton is a member of the Bionomics Institute's Board of Directors.