The Coin is an all-in-one card which can greatly reduce the number of cards you carry in your wallet. This great gadget lets you store the information from all the cards in your wallet onto one electronic card the size of a standard credit card. You can then use the Coin as a card by swiping it as you normally would. You can switch between which card you are using with the press of a button.
Coin works with your debit cards, credit cards, gift cards, loyalty cards and membership cards. Instead of carrying several cards you carry one Coin.
The mobile app, available for both iPhone and Android, will allow you to add, manage and sync the cards that you choose to store on your Coin. The process of adding card information to the mobile app is very simple and is done by taking a picture or two and swiping your Coin through a small device provided with the Coin.
The Coin mobile app can store an unlimited number of cards, however, a Coin can hold up to eight cards at a time. And yes, a Coin can be used in an ATM.
As an added security feature, in the event that your Coin loses contact with your phone for a period of time, it will automatically deactivate itself. So if you walk away and leave your Coin somewhere, nobody else will be able to use it.
Coin does not support EMV yet, but the second-wave of these devices should include EMV. EMV is the chip-based security system included in some cards in Australia, which means Australians should hold off on purchasing a Coin until EMV is supported. The Coin retails for $100, and you can follow its progress at www.OnlyCoin.com.
What do you think? Would having all of your cards stored in one place make your life easier? Or would you worry about the security of such a device?