CyberCash reports wider loss.

CyberCash, which provides electronic payment systems to companies that sell products over the Internet, posted a wider loss for the second quarter, which it said was hurt by increased competition. The company reported a net loss of $11 million vs. a net loss of $9.6 million in the second quarter of 1998. CyberCash reported revenues of $4.3 million, up more than 70 percent from the $2.5 million reported for the same period last year. CyberCash had warned earlier in the month that it would miss analysts_ expectations, as its InstaBuy "one click" and Agile Wallet shopping services were not selling. It also warned it would take several quarters to achieve predictable revenues. The Reston, Virginia-based company said it would focus on market share for its digital wallet product, which allows an online consumer to store credit card information so that purchases are automatic. "We saw we could get distribution or revenues, but not both," said president James Condon, who blamed more competition from other digital wallet vendors over the past six months. Condon said the company_s payments business, on the other hand, has been meeting its numbers. "The payments portion was every bit successful; we are up 70 percent," he said. CyberCash said yesterday it plans to spend between $10 million and $15 million on a marketing campaign to boost its e-commerce products.