Well, It Is About Time: Why Coin Is the Wallet Replacement We’ve Been Looking For…
I don’t like carrying my wallet around. I hate to thing about what sitting with my wallet in my back pocket does to my spine. There are always so many cards and they always want to flop out of my wallet and I can never find the card I’m looking for and on and on it goes.
We are in a technological age where this problem should be easy-peasy to fix, but for the last number of years tech giants and startups alike have fumbled repeatedly in endeavors to launch a technology to replace the traditional wallet with its multitudinous cards…well, it looks like Coin has finally invented the way we will do wallets in the future.
I’m excited about this not only b/c of what it means for the wallet, but also b/c I’m sure I can get a sheath for my phone that will allow me to carry my coin card and drivers license with the phone – getting rid of the annoying wallet altogether.
So how did Coin make something that the tech giants have been failing to do for years? They aren’t trying to move everyone to a new standard (e.g. NFC) but instead are using an the old technology in a new way.
Basically, the Coin card comes with a scanner which can read the information off of credit cards and other striped cards. It stores this information in the Coin card and you can then choose through a display on the card itself which card you want to use at any given moment. The stores you visit don’t need any new technology – as far as they are concerned, the Coin card is just another credit card.
But wait folks, that’s not all. The Coin card also uses Bluetooth to make sure you don’t accidentally leave your card somewhere. If you walk out of a restaurant and forget your Coin card, your phone will alert you that the Coin card is no longer in the vicinity – before you drive all the way home and realize your card is missing.
The Coin isn’t available just yet but it can be pre-ordered at half price ($50 I think) and has a planned release date of Summer 2014.