The challenge these days can be to fit all of your credit, debit, and
gift cards into your wallet without suffering strain to your back to
lift it afterwards. It has been a sort of Holy Grail of computer apps
and devices for some Coin credit card app stores all of your cards (You Tube Imagetime. Coin is a new device and app to address this
problem. It isn't a different kind of payment system, but a way to keep
all your cards on one hand-held device.
Users swipe their cards through their own magnetic reader into a smartphone and then sync the information with the company's app. You can store all of your cards so that they are ready at the touch of a button. Each one is saved under a different icon so that you can select the desired card -- even your business credit cards.
Coin credit card app stores all of your cards (You Tube ImageThe device is about the size and shape of a credit card, so you will feel like you have slimmed down to a single card. To use it all you need to do is press the button on the outside of the device and select the card you want to use. It is then swiped through the credit card reader just as if you were using the actual card.
While it may seem a little risky to keep all of your credit card information all in one place, it is no riskier than carrying all of your cards around at once. All of the information is heavily encrypted should your gadget fall into the wrong hands. The card itself also emits a low-level Blue Tooth signal so that it tracks the location of your smartphone. If you wander away from it a notice is sent to your phone. In addition, if your card does fall into the wrong hands it becomes deactivated after a certain period of time chosen by you.
The Coin is available for preorder now. To order yours, click here.
Source: ABC News