Cash Card

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.