The digital credit card that promised to combine all your cards into one small package has been delayed from its summer launch to a Spring 2105 launch. The bluetooth enabled credit card could stand in as a card for up to other eight different cards, but the 20,000 pre-ordered cards won’t be produced as planned just yet. The company has been trying to improve the two year battery by only turning the magnetic stripe on milliseconds before use. There has also been concerns of security so Coin has worked to send a unique code string to verify every transaction, which would “obliterate” fraud, says founder Kanishk Parashar.
The iOS app is arriving next week, on August 28th, and the Android edition following a month later, on September 25th. The app will allow you to manage your credit cards, debit cards, loyalty cards much like a digital wallet. Coin’s new beta testers will complement the street teams already deployed in San Francisco, Los Angeles, and New York City, who have been going from store to store testing Coin. “We’ve already checked out every nook and cranny of San Francisco, so our nationwide beta will be a good way to figure out where something is incompatible,” says Parashar. “Nobody has made something like this before, so we can’t read about the lessons others have learned.”
Coin wouldn’t have to start a beta testing program to appease backers if the company could have delivered the product on time or would have communicated more with backers on a possible delay. The company is promising more updates on the progress of the credit card, and hopes to increase the cards compatibility above 85% of places. You can get a refund if Coin’s problems cause issue, although the company is clearly hoping that you’ll give it a second chance.
If you don’t give the company a second chance do you think the kickstarter idea will ever succeed or will it be another failed project that had so much potential.