Credit card theft is at an all-time high and it's moved well beyond hijacking online accounts. If you were shameful enough to watch Showtimes hit series Shameless this past season, you saw how electronic pickpocketing wove its way into the storyline. Unfortunately, electronic pickpocketing isn't Hollywood fiction, it's happening on a daily basis. It is increasingly on the rise as thieves use wi-fi devices that only require the thief be within 10 feet of your pocket to swipe your credit card data.
To combat hi-tech thieves you need hi-tech gadgets like the new Geode digital wallet made by a company called iCache. The Geode works with your iPhone and offers both a software and hardware solutions to all those credit cards you carry around in your wallet. The device allows you to create a digital copy of all your credit cards, debit cards and membership cards. It's really an interesting piece of technology.
How does it work? The software creates the "digital wallet". When you setup your electronic wallet on your iPhone, you'll input all CC (credit card) and membership card information. The back of the device holds one "black credit card", but we'll get to its purpose in a minute. Now, go shopping. When you're ready to pay for your items, whip out your iPhone, open the application, select the applicable CC and swipe your fingerprint over the reader to activate the "black card" which grabs the info from the electronic wallet stored on the smartphone.
Membership cards utilize the digital barcode displayed on the back of Geode iPhone case. So when your checking out at the grocery store simply open the application, select the membership card and hand the cash register attendant your phone so they can swipe the barcode and credit your membership account. Does the Geode "black card" work with ATM machines? According to their FB page, it does indeed.
The only drawback I see is you still have to tote your drivers license and membership cards that require a photo ID like gym memberships, Sam's Club and Costco. But who cares! It beats having to wrap your CCs in tinfoil to "foil" hi-tech electronic pickpocketing. If the company doesn't hold a patent, I expect there will be a lot of Geode-type devices to follow and Android users won't have to wait long for a solution. I wish iCache well – brilliant solution to a nagging problem. Onward!