iCache an emerging leader in mobile payments announced today that Edward McQuaid has joined as its Chief Financial Officer.

McQuaid was Vice President and Chief Financial Officer for Verizon International with responsibilities for finance, strategy and business development opportunities. His prior experience with Verizon included financial planning, analysis, resources allocation and financial reporting in both corporate and business unit executive roles. He received a Bachelor's Degree in 1977 and Master's Degree in 1981 both from Babson College. He received his CMA in 1983.

"Ed is a tremendous addition to our team and will play an instrumental role in the strategic growth of our business," said Jonathan Ramaci, iCache's CEO. "Ed brings thirty years of seasoned leadership in telecom and finance - he is a perfect fit as we rapidly grow iCache into a global player in the mobile payments industry."

"This is an exciting time to join the iCache team - top tier card issuing organizations are quickly gravitating to iCache's biometrically secure digital wallet over other mobile payment applications. Consumers will be able to use their iCache digital wallet wherever they use their cards today - online and at retail stores." said McQuaid.

About iCache, Incorporated
iCache is a privately held company headquartered in Cambridge, Massachusetts. iCache is developing the next evolution of your wallet - a biometrically secured portable device that allows consumers to digitally consolidate all the cards they currently carry in their wallet including charge cards, ATM cards, loyalty cards and bar-coded cards, coupons or tickets. Consumers will be able to conduct transactions wherever they use their cards today via magnetic swipe, contactless and bar code readers while merchants will be able to accept the iCache digital wallet without any modification to their POS infrastructure. The iCache digital wallet's powerful features have been designed to help card issuers build deeper, richer, more relevant relationships with their customers. Visit www.icache.com for more information.

Contact:
Jennifer Pingolt, Vice President
iCache Incorporated
Main: 866.414.5555
Direct: 843.414.8807
Email: jpingolt@icache.com