High Tech Credit Cards
Have you ever actually stopped to count how many credit cards, debit cards, and loyalty cards you have in your wallet? What if you could replace them all with one small electronic device?
A wallet packed with cards is nothing new these days. One report says the average american family has at least eight. So is there a way of cutting down on the plastic?
“Everything that’s in here and putting it in here.”
Into a small, lightweight, thin, electronic device named iCache.
“Everything that is barcoded or has a mag stripe you can put in your iCache.”
The device stores credit card, debit card, loyalty, and club card information…scan your fingerprint, dial up your card, and icache becomes it.
“You can use it through display bar codes on the device, through the new contactless terminals that are coming out that’ built into this and this universal card that will emulate any card that you have.”
That’s right. A generic magnetic stripped plastic card inside the iCache becomes your specific card.
“And this is the universal magnetic card that comes out; biometrics, screen navigation, USB port.”
“So if you need a card, you just scroll through your different choices. The information is then printed out into this card. You use it, and then 10 minutes later the information disappears.”
iCache says its far safer to use than regular plastic. The information is encrypted. A finger scan is required. If lost, it’s easy to replace.
“There’s no card to cancel, no cards to get reissued. They’re up and running in a matter of minutes.”
For the Cambridge, Massachusetts company that invented the concept, it’s about time.
“Really consumers have been walking around with what we think are analogous to floppy discs in their wallet and the number of those floppy discs keep growing.”
At this point, iCache is pitching the idea to banks and credit card companies…no word on the price or when we’ll see it on the market.
January 24th, 2007 at 9:58 pm
Nice Post.
That was well said. Always appreciate your indepth views. Keep up the great work!
John
January 29th, 2007 at 1:06 pm
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