Coin, a San Francisco based startup announced a credit card-sized device that stores up to eight credit, debit, gift cards and lets you use all of them by switching between one and the other. By pressing a coin shaped button, you can then use and swipe the Coin card in any credit / debit card reader or ATM as if it was the original card. Coin has a small display that shows the last four digits of the card you want to use.
Coin will ship with a reader that you can use to scan cards into the mobile app, it then syncs with the card over Bluetooth Low Energy. As per the company, Coin’s battery lasts two years. Coin also has an alert feature since it’s always connected to your device via “BLE”, the phone would instantly alert you if you leave it behind.
Coin uses 128-bit and 256-bit encryption, but how usable and secure is it? well that’s something that we’d have to wait and see as the device starts shipping.
Below is the company’s video showing Coin in action:
http://www.youtube.com/watch?v=w9Sx34swEG0
You can pre-order Coin is for $50 here.
*Coin might not work outside the US at launch.
21/11/2013 : Coin have updated their FAQ page online to reflect security concerns from early adopters and potential buyers. Check it out here.
