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A new product called the iCache (why not just
iCash?) is scheduled for release during the 2nd quarter of 2008. The concept
is simple, and although I personally don’t see the benefits, it’s bound
to become a successful product.
What Is The iCache?

The iCache will provide the ability for credit card owners to
synchronize all of their credit cards into a single card. The iCache card will
assume the roll and take on the signature of a desired credit card.
Instead of dealing with an excessive amount of credit cards, consumers will
have the convenience of carrying around a small electronic device (the
iCache) and the special corresponding iCache card.
How Does The iCache Work?

The iCache’s electronic portion is initially used to capture all your
credit card’s magnetic signatures. Once the magnetic pattern is stored
in the device, those patterns are transferable to the iCache’s
corresponding card, pictured above. Fortunately for consumers, the creators of
the iCache had security in mind. Not only are credit card’s magnetic
sequences encrypted on the device, but to apply the previously stored
magnetic patterns requires the user’s finger print. Before the electronic
display lists previously synchronized credit cards, the user puts the
finger of their choice over the scanner, and vuala! With the iCache card
inserted into the electronic device, the iCache is able to write the
magnetic signature to the iCache card, allowing the user to use the
desired credit card as if it were the real deal.
So… What Are The Benefits?

Some may see the iCache as a relief simply because the need to carry
around all those credit cards will become extinct. Instead, credit cards
can remain in the safety of the consumer’s home. This will definitely
prove beneficial to people like Paris Hilton (if she can figure it out),
but small timers like myself with just one credit card, eehh, I’ll
pass. There’s more information on their web-site at http://www.icache.com.