By Andrew Liszewski
Here’s a concept that holds some real promise. The iCache is a small device capable of storing the data from any of your credit or debit cards and can replicate their magnetic stripe meaning it could probably replace everything in your wallet.
Setting it up is pretty simple, once you get the iCache just visit their website and register all of your cards to your account as well as your fingerprint since the device includes a biometric scanner. Then when you’re at the store and want to make a purchase just select what card to use from a list on the screen and the iCache’s dynamic magnetic stripe will be temporarily programmed with the same track data that’s on the actual card. And even though the pictures are a bit vague as to how (the device would have to be extremely thin) apparently the iCache can then be used in a conventional swipe terminal just like a normal credit or debit card can.
I’m sure plenty of people will be up in arms about the security issues of the iCache if it’s ever released but personally I would trust a biometric scanner over a signature any day.