Monday, November 18, 2013

Coin Replaces All the Cards in Your Wallet

Coming soon to bloated wallets everywhere is Coin, a connected device that holds and behaves like your credit cards, debit cards, gift cards, membership cards, and loyalty cards. If you've been carrying around multiple cards, Coin can lighten the load and help your wallet slim down. The same size as a typical credit card, it can store up to eight cards. To add card information to your Coin, simply open the accompanying mobile app, swipe the card through a small provided device, and take a picture of it. The Coin mobile app works on iOS and Android, while a Windows version is being considered and will be created if there's enough demand.

Coin can be used wherever cards are accepted, including ATMs and dip-style card readers. Just tap a button on Coin to select the card you want to use – there's a screen on the device that displays each card's last four digits, expiration date, CVV, and the name you've assigned to it.

What about security? Using a low-energy Bluetooth signal, Coin knows when it's near or far from your phone. So in case you accidentally leave your Coin behind, you'll get a notification. If for some reason you failed to see the alert and didn't go back for your Coin, it will automatically deactivate itself after a certain period of time, which you can configure in the mobile app.

Headed by founder and CEO Kanishk Parashar, the Coin team consists of software engineers, designers, consumer electronics experts, and a former NASA engineer. Their mission is to build products that “simplify, improve, and fit seamlessly into your life.” Coin is currently available for pre-order and will start shipping in the summer of 2014. A Coin will set you back $100, but if you're early, you can get one for $50.

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