iCache emulates credit cards

If you've got too many credit cards, debit cards and loyalty cards eating up your precious wallet space that could otherwise be put to better use storing gum wrappers and Bazooka Joe comics, and you don't mind adding another gadget to your accessory-toting bag of choice, then this iCache thing might be just the thing for you. The device can emulate pretty much anything with a magnetic strip, storing the info inside the device and allowing you access with a simple swipe of your finger and a menu selection. To read back the info, the device can display a barcode, communicate wirelessly with one of those contactless terminals, or print the data out onto a universal magnetic card that will store the info for 10 minutes, allowing for a quick shopping spree. While in the right hands, this sounds quite promising -- if a tad self-defeating due to the fact that the gadget is most likely larger than your stack of cards -- and the security seems commendable, we shudder to think what a hacked-up version of this thing, lacking that arbitrary thumb-based security, could pull off, so for now we'll stick with burying all our cash in the backyard and guarding it with a one-eyed dog and our trusty shotgun.

[Source: engadget]