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Yeah, it's really only meant for (mostly) here in the US, where our credit card "technology" is about 10 years behind the rest of the world.
Last time I checked, we didn't even have legit/real chip & PIN credit cards available. It's so pathetic, it's sad. Oh well.
I stick to 1 card anyway. Not much use.
Closest we have are some larger issuers (Chase comes to mind) providing Chip and Sig cards.
Useless in the US, of course..
Seems cool but we use the chip too here in Finland.
Here in Holland we also use the chip instead of the magnetic strip thingy, i see no use for this "Coin" thing though...
Can really see a problem with outlets accepting these for payment before there is wider adoption.
"I promise I didn't skim these card details"
There are some true Chip and Pin, mainly from some of the larger CUs (I have a PenFed true Chip and Pin). But you can get Chip and Sig from most of the majors (I have one from Chase and one from BofA). I travel internationally quite a bit and it helps a lot.
Here in the UK, the FSA doesn't permit the issue of Credit or Debit cards without 'Chip and PIN'.
Hence why a lot of retailers now with updated POS systems can't accept the older AmEx cards.
I requested a new Citi card recently as my current one was wearing out. They put up a big notice that the new card would be the chip and pin type. sure enough it was a chip and pin when I got it.
Last year when I was still working for a bank, the creative team came out with the similar idea. The development team test the technology and it is possible to be implemented with the current infrastructure, unfortunately when the risk management team audited the Product Development Proposal, they turned it down due to the very high risk that might be caused by the end users.
let you guys try the open beta first.
Saw this weeks ago...good luck using this baby when your phone is dead...especially considering how much a battery hog most of the phones are these days...
I am almost convinced that credit card companies have something stated in their terms that specifically would forbid the duplication of one's credit card as it's done here.
As some have already stated, at least in Europe, the magnetic strip is quickly being replaced by the chip, and that makes any cloning of the magnetic strip information useless.
http://money.cnn.com/2013/11/17/technology/innovation/coin-startup-credit-card/
So the whole security narrows down to BT signaling? I don't like this one bit as this is a SPOF. We should we working towards FOB devices and multi-factor authentication, this Coin just saves data of multiple CCs into one, it's just a convenience.
So awesome
What are you talking about?? I charge my phone at night. I wake up at 6:30, out the door at 7, in the office at 7:30 and by then my iPhone still has 35% battery for the rest of the day.
Maybe he doesn't have an iPhone? Or perhaps he uses his phone 24/7 all day long? Or he just has a crappy phone -.-' (no offense!)
Edit, I've been using my phone heavily with 3G on (Samsug Galaxy S4 Mini) for 6 hours and 46 minutes now, i charge it during the night and i go out of my bed @ 6.30 and go to the train station by 7:10, right now my battery is @ 57%
Well that's weird... i really thought iPhone's battery life was amazing, appears to be not?
What % of purchases do you guys use a card to pay for?
I'm finding myself using online stores (only require your credit details once) such as Amazon now that it has next-day delivery in my area.
LOL...not an Apple fan ever since I had my first Android phone...
Good!
I also do not want anything else than Android now, simply love it
Q. Do I need my phone with me to use Coin? How close does my Coin need to be to my phone to use it?
A. No. Coin is a standalone device. There are, however, security features like notifying you that you forgot your Coin somewhere which you need to have your phone on you to take advantage of.
https://onlycoin.com/support/faq/
Nexus 5 is faaaaasst
Ehehehe, maybe you should tell the Apple engineers to grow some brains and allow background processes. For example: Dropbox Camera Upload sucks the battery empty because it constantly needs the GPS location as that's the only way they can fake a "background process". Of course, if I would build a phone with old and crappy hardware and sell it for way to much dollars, I wouldn't want background processes either. They'd just show that the phone actually sucks performance-wise.
Honestly, there are some very stupid people at Apple that should have been fired a long time ago.
That is a great exemple why artificially limiting computers is bullshit and a reason why I changed my Iphone for a Android 2 years ago.
About the little gadget, I doubt it has a long life, most of the world is using chips. This leaves only USA as a potential market and since thieves/skimmers are probably aiming at USA now, I doubt it will take more than a couple of years for credit card companies there to only issue cards with chip.
Is summer here yet? I have so many different cards in my wallet it's insane. With this I can finally eliminate more then half of them.
As for the Chip & Pin when I got my new card after my last expired it has it built in as an extra feature. But the only place that the Chip & Pin combo that i've found has worked correctly was at Walgreens. Good thing you can still swipe it.
i don't get why someone needs to carry so many cards,
reminds me of the idiots i see with dozens of keys on their keyring.
I'm hearing 2015 as a definitive date for mass roll out. Everyone should be upgraded by 2022.
For the US. Mexico already has this implemented everywhere
Because every time I take them out I run into something where I could have used them.
I like mine, it is fast, but too bad the battery is terrible, the speakerphone is poor, the camera is hardly average, and the ear piece sounds like a tin can. Ugh.