Consolidate Credit Cards With Coin

February 21, 2014 •

Coin splash

Tired of carrying a handful, sometimes purseful, of assorted credit cards and gift cards? In an effort to simplify carrying a burdenful amount of plastic, the Coin will digitally store information in a singular, swipe-able card. Coin is a connected device that holds credit card information and behaves like any existing card, even working with loyalty, membership, and gift cards.

Coin will hold up to eight cards at any given time. Information stored includes card brand, complete number, expiration date, and CW/CVC. A small e-ink window will display all of the pertinent information for a transaction, except the full credit card number. When commanded, the Coin shows: last four digits; expiration; CW/CVC; and brand name–Visa/MasterCard, etc.

Only one magnetic strip is located on the back, just like a standard credit card, which allows Coin to operate through any swipe system. As all relevant transaction information is stored, Coin will operate at any retailer that accepts the stored brand of credit card, which can be cycled using the selector button on Coin’s front surface. When making a payment, simply toggle to the correct card and swipe the card.

When handing Coin over to a waiter with the Visa selected, do not fear. As Coin breaks a proximity connection with the synced smartphone, Coin will not allow the card type to be toggled. Coin will even wipe its memory based on a user defined time of proximity separation. For additional security, Coin does not show the full card number either. Electronic security comes in the form of 128-bit or 256-bit encryption standards for Bluetooth and HTTP communication.

Coin operates in harmony with a smartphone app for easy setup. Adding and managing up to eight cards is handled directly on the mobile app, as it pairs with Coin. Uploading a card to Coin is as simple as quickly taking two pictures of the card and swiping the card through a headphone jack scanner, which is received with Coin. Information is then stored in the app and, subsequently, pushed to Coin.

Coin is currently available for pre-order at $100 per device. Before delivery, Coin is engraved with your credit card name to ensure regular retailers can identify the user.  Units that are sold through pre-order are expected to ship this coming summer. However, a new one may need to be purchased more quickly than expected.

Unfortunately, Coin is battery powered and will require replacement once the estimated two-year battery is depleted. It is important to remember, the device is electronic, not simply a passive plastic card for storage. Coin operates with several internal chips and even a Bluetooth Low Energy (BLE) chip for communication to prevent an immense drain on the non-replacable battery.

For more information, visit the Coin website, blog, or frequently asked questions guide, which is quite robust.