Electronic commerce (e-commerce) is a promising and continuously changing field of business management and information technology. The digital cash transfer system is the modern technology used to carry out the financial transactions electronically in banking sectors in a successful way. In this paper an elliptic curve based untraceable off-line electronic cash system is proposed. The popular cryptographic algorithm ECC providing high level security with smaller key size is used in the system. The scheme satisfies the requirements of a digital cash scheme and in particular preserves dual customer detection, anonymity and provides commanding fraud control facilities. ECC is considered to be best suitable for devices with less memory and so that the portability is guaranteed.