A clever start-up believe they have the answer for your bulky wallets, a product called Coin. Simply put the Coin consolidates all of your cards including credit cards, debits cards, gift cards and membership cards into one simple and slim card. This saves that precious space in your wallet or purse for other items and instead of carrying around multiple cards you only need one. You toggle between the different cards by simply pushing a button on the card itself.
The product looks like your standard credit card, including the magnetic strip which allows it to be swiped at almost any payment checkout/terminal. Loading cards onto the Coin is also quite simple with the help of an app and a small card reader which comes included with the product. You may be thinking ‘what about security’? To help prevent fraud you must use the app to take photos of the front and back of your card just swiped and input the details manually. The prevents everyone except the actual card holder loading cards into Coin. Not only this but all card details stored in the app are password protected.
Selecting the different cards is done by using the push button on the device, which the company says that if sat on, it shall not activate the button and toggle your cards. A small screen on the Coin shows which card is selected by displaying the nickname as well as the expiry date and last 4 digits.
The card does in fact need your phone to function, which it does via bluetooth. If you happen to leave somewhere without Coin then you shall receive a notification alerting you that you may have left it behind.
As with most new products, there are unfortunately a few drawbacks:
- If you didn’t hear or see the notification that you had left your card at home, you are left without all payment and store cards.
- Data is encrypted on the servers, but you must remember that Coin is a new start-up company and therefore you will be trusting them with your payment/card information.
- Coin runs on a battery which is said to last around 2 years. After this time it would need to be replaced, therefore it is an on going investment.
This being said we really like this idea, and there is no shadow of a doubt that many others will too. Hopefully we will see these small problems improved to make a great product that has the potential to do extremely well when it begins shipping.
If you would like grab a Coin you can head over to their website here, where you can in fact pre-order one right now. The product will normally cost $100, but if you’re eager to get your hands on it then by pre-ordering you will pay $50. By pre-ordering you will be paying the $50 right away, and not when it ships in the Summer, so keep this in mind.
To find out more, watch the short clip below: