We have all heard about the future of mobile payments and how easy it will be once all mobile manufacturers finally agree to a universal form of technology. Until that time comes, we are left to piece together mobile payment processing based on the features our phones offer. A new start-up, iCache, has created a versatile solution that allows the future to become the present.
The new product, labeled Geode, is a complex iPhone cover that functions both as a case and a digital wallet, giving users the ability to pay while on the go. The setup revolves around a single, programmable smart card that attaches to the back of the case and can function as any credit card.
Included with the product is a magnetic strip reader, which allows you to scan in all of your credit and debit cards for future use. Whenever a particular card is needed, one simply opens up a proprietary app, selects the account in question and the card is loaded with that particular information. You can also scan in rewards cards and loyalty cards for use at the counter as well.
Security is of the utmost importance, and iCache has implemented multiple features to make sure your identity is safe. A fingerprint scanner is included on the front of the cover and must be used in order to activate the app and smart card. Once activated, any account can be chosen and the smart card takes on the form of the account in question. After using the card, it will revert to a blank, generic card after 20 seconds. This means that even if you lose the card, no information is lost with it.
Loyalty cards can be used separately from the smart card thanks to the e-ink display located on the back of the cover. Once scanned in, you can select a loyalty or rewards card and the e-ink display will display the barcode for use with any traditional scanner.
While this nifty cover packs a lot of features, it is also quite pricey. The kit costs $199 and is available online through iCache.