Even though the technology of the iCache is pretty complex to ensure the security of your data, it can be used at any store equipped to read magnetic strips or barcodes.
Although the iCache is pretty easy to use, it doesn't solve all the problems with using credit and debit cards, especially if you're using it as a travel gadget. First of all, you still have to call each of the credit card companies for the cards you plan to use while you travel to let them know that you might be using them internationally or in another part of the country. So, the iCache doesn't save you that step.
If you plan to use the iCache as your one-stop money travel gadget, some more serious problems might arise. Like the adage goes, with the iCache, you're putting all your eggs in one basket. So, if you misplace it or if it gets stolen, you lose everything. In other words, you won't have that hoard of credit cards stuffed in your wallet and also in your travel packs to use as back-ups. Although no one else will be able to use your iCache without your consent, you won't have any other card resources to fall back on if you're far away from home. Then again, losing your iCache is just as bad as losing your entire wallet, except with the iCache you don't have to worry about other people using your cards. While you travel, you should carry your iCache on your person and one spare credit card elsewhere in your luggage.
Another problem you might encounter with your gadget is that store clerks may be unfamiliar with the device. If you're using it in travel, you might see this problem more often. While Visa or Mastercard symbols are internationally recognized, the iCache hasn't come close to reaching the same international popularity. A store clerk in a remote Tuscan villa might be suspicious when you dial Visa on your peculiar travel gadget. The card that pops out of your iCache won't bear the well-known blue, white and gold Visa symbol. It will instead have the lesser-known red and white iCache insignia. Also, because the iCache relies on the magnetic strip, it can't be used in places that only use the antiquated sliding credit card readers that emboss the card numbers on paper.
Another potential problem for the iCache is that the technology could become outdated quickly. As gadgets like the iPhone and Blackberry combine telephone, email, Internet connection, cameras and music, it seems logical they could begin to add credit cards to these kinds of gadgets. Perhaps the iCache will contribute to the continuing all-in-one gadget revolution.
Related HowStuffWorks Articles
- iCache. Product Info.http://www.icache.com
- Kwan, Michael. "The Only Credit Card You'll Ever Need." Mobile Magazine. Jan. 18, 2007.http://www.mobilemag.com/content/100/102/C11386/
- Lev-Ram, Michal. "All-in-One Credit Card." Business 2.0 Magazine. CNN Money. August 24, 2007.http://money.cnn.com/2007/08/23/technology/one_credit_card.biz2/index.htm
- Roush, Wade. "That Dinner You Charged on Your iCache at Hamersley's: $360. Not Having to Worry About Stolen Credit Cards: Priceless." Xconomy: Boston. Sept. 7, 2007.http://www.xconomy.com/boston/2007/09/07/that-dinner-you-charged-on-your-icache-at-hamersleys-360-not-having-to-worry-about-stolen-credit-cards-priceless/