Half a croissant, on a plate, with a sign in front of it saying '50c'
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Cash Card

a card that replaces cash
 
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My invention is a calculator/cell phone like device that would use the internet or other means of communications to keep track of money. My device works like a debit card but instead of requiring an atm or fixed location to make transactions it would be able to make transactions with other devices. For instance you could have it connected to a cell phone or included in one login to your account with your pin or password and then select the operation and then using an infared port you could send cash to another device. If you and your friend were gambling for instance and you owed him 20 dollars you could just simply login to your account and select send money to his name and point the infared to his device and then it would validate it over the internet. The point of the online is to have a back up and central control over the system. The device could possibly replace cash one day if the technology could be perfected. This could also be used for donating money into those little bins you see at restaurants to donate money to charity or even at church. You would just point your device at the E-charity bin and select the ammount you wish to donate. The infared makes it more secure by preventing hacking and your device would maintain a record of all transactions so if the bank messes up or the central control messes up you have a record to use in a case to prevent fraud and other problems. If you want to buy something online you could just use your computers pins and then sync it with your device and an infared port. I like this idea because i always hate having to carry cash around and i dont like credit cards because you cant have a statement whenever you want. This device would also be more secure since it requires a password and you could even install a tracking system in it so if it were stolen it could be relocated, as soon as it goes online it's cellular signal could be tracked.
JoeLounsbury, Oct 21 2003

Visa Cash http://internationa.../ps/products/vcash/
[krelnik, Oct 04 2004, last modified Oct 21 2004]

[link]






       Something very much like this was tried out in the US around 1996 as a Smartcard product called "Visa Cash". As I recall it didn't go over too well, but according to Visa's web site it is still being used in at least five countries. See link.
krelnik, Oct 21 2003
  

       how is this different from mcommerce -- where you can dial a number on your cell-phone to charge things directly to your phone-bill? they're not identical, but it sounds fairly similar; mCommerce is likely to integrate with your bank at some point (or at least with a credit/cash clearing company. mCommerce is in it's infancy, but eventually, it will probably have all the features you're talking about here -- without needing anything other than your phone.
Geoff332, Oct 21 2003
  

       Prescient.   

       // The infared makes it more secure by preventing hacking //   

       How?   

       // i dont like credit cards because you cant have a statement whenever you want //   

       Says who? (Actually, that might be true. I've never had a credit card. But I can't imagine people would accept that state of affairs these days.)
notexactly, Apr 23 2019
  
      
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