New method for paying for goods.

I was watching the news this morning when I saw an article on a revolutionary method of paying for goods designed specifically for small values. There is no transaction fees and no credit agreements to sign. It can be used in nearly every retailing in the country, small or large transaction with no limit to the value you can purchase each day. There is security built in, you determine the value it is worth in your wallet at any given time and although it does not require a pin or signature you can only lose up to the value you are carrying....... Cash.