Meet Coin, the Future of Mobile Payments?

Introducing Coin…

COIN

Last Thursday, a tech startup by the name of Coin held a pre-order campaign to help fund its new contraption, namely a card-shaped device into which all of your point-of-sale-related plastics, from credit cards to rewards cards, can be consolidated and subsequently used as any old piece of plastic. The success of the crowdfunding effort was undeniable, with the company meeting its $50,000 goal, through $50 pre-orders, in about 40 minutes, and could be taken as a clear indication that demand for such a product is high.

Coin’s electronic credit card, identical in shape to the traditional credit card, is slated for release in summer of 2014, and will have the capacity to hold up to eight different cards. Users will be able to toggle between whichever card is required by the given transaction, and the company is also developing a mobile app that will allow for the storage of an unlimited number of debit, credit, gift, rewards, and loyalty cards.

Whether one is using the card device, or the mobile app, the process for transferring the information from the original cards to Coin is simple, involving “a picture or two and swiping your Coin through a small device we provide you with.” according to the FAQ on the company’s website.

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