We’ve written quite a bit about wallets over the years and one of the biggest things we look for in a wallet is how slim it is. Some of the wallets I’ve seen with people look like they are going to explode any day now. We tend to have so much crap in our wallets and it gets pretty bulky and annoying. Debit cards, multiple credit cards, airline mile cards, loyalty membership cards, and the list can go on and on.
Wouldn’t it be pretty sweet if all of the cards in our wallets and purses (for the ladies) can be controlled with just one card? It would certainly save a ridiculous amount of space in my wallet. The Coin Card is a data storage device which functions like any other credit card, but with an awesome bonus feature. With the power of a mobile app, you are able to manage and sync all of your cards in one place to make purchases. You basically sync your cards and with the push of a button, you can shuffle through the Coin Card and get the card you need, then swipe it like your standard debit/credit card, and done deal! Pretty useful right?
The Coin Card is connected to your phone via Bluetooth and it also has an alert feature which will notify you if you forgot your card. The app itself can hold an unlimited amount of data for cards but the Coin card can hold up to eight cards at a time. The Coin is made out of the same plastic as your standard credit card and it also contains a small battery (the card will eventually have to be replaced). According to the company, the card should last you a good two years.
The Coin card will cost you a $100 and shipments start going out summer of 2014 but pre-orders at Only Coin at the moment are going for $50. I should point out that the current Coin does not support chip & pin (EMV) cards but it will have that support in the future. You can read more about the card over at Only Coin and also go over some of the security features should you happen to lose your card.
I really like the idea of the Coin and I can see this being a useful tool for many people. It not only works for making purchases via debit/credit but you can also use it as membership cards such as Air Miles/Aeroplan, Starbucks, or any other card that has a magnetic strip.