There have been many attempts to solve the problem of our large wallets and move them to smartphones. However many of these apps and services are restricted to certain operating system and require costly infrastructure at stores. One company has found a way around this problem by using the same system as debit cards, but linking it to a smartphone app or online service. Essentially the card is an all in one debit card card that pulls money from other cards that you link.
With a companion dongle and smartphone app (iOS and Android ), you can upload all your cards onto Coin, which has 128-bit encryption. Through the app, you can easily add or delete existing cards, or just manage the ones you currently have uploaded. Once uploaded the app is not necessary but it provides you with some nifty features such as making sure you never leave your card behind.
Right now, the Coin has set a goal of $50,000, which will allow them to start producing things. If the project meets its funding goals then the first cards won’t come out till summer of 2014. The idea is brilliant and will help with over sized wallets. . Once Coin hits retail, it’ll go for $100, but backers can get a special discount of $50.
Sad part is it wouldnt work in canada, all of our cards are chipped. great concept though.
Yeah Its a great way to solve the American problem of mobile payments but won't work beyond the United States. I'm wondering how well it will work too.
Yeah it's a mess carrying so many debit, credit, loyalty, membership cards with you. Brilliant idea….
Accept Credit Cards On Cell Phone
Its a good idea only if it works without any problems I foresee people pressing the button to change which card and other nonsense.
That's very good idea to use cards for mobile phone application. But i don't think so that it would be helpful in every part of the world
I don't know if it would work at all.