Coin Card Wants to Replace All Your Swipeable Cards
Coin, a Y Combinator and K9 Ventures backed startup is promising to end the woes we have with payment cards with its new all-in-one card.
Replaces all your swipeable cards
Coin Card is approximately the size of a single credit card but can store all your swipeable cards and be used to pay everywhere cards are accepted, all in real time. It uses a card-swipe dongle that connects to a smartphone or tablet to allow you to upload all your cards onto an accompanying iOS or Android app.
Security
After setting up, users don’t need their devices to use the Coin Card unless they want to manage, add or delete existing cards. In case dropped or forgotten somewhere, the card’s accompanying app alerts the user or simply disables itself if it’s lost.
The San Francisco-based startup has launched a crowdfunding campaign to raise $50,000 to mass produce its first batch of 128-bit encrypted and Bluetooth Low Energy (BLE) connected cards, ready for shipping in summer 2014 at just $100. The Coin card is water-resistant and its battery lasts for two years minus recharge.
According to founder and CEO Kanishk Parashar,“Coin is designed for the lifestyle of today but with the technology of tomorrow.”
Early birds
To allow as many people as possible to tap into this payment technology of tomorrow, the firm says the crowdfunding backers will enjoy discount pricing starting at $50 and special discounts of $5 off for every friend they refer.
