San Francisco startup Coin today announced its first product — a credit card-sized device that digitally stores up to eight credit, debit, gift, or membership cards, and lets you switch between them by pressing a circular button on its surface. You can then swipe the Coin in any conventional reader or ATM machine as if it were the original card itself.
The concept is interesting, but it has a few pitfalls (all my rewards cards use barcodes, what about NFC? Err, security?!). I don’t want to shit on it just yet, as it looks like it was pretty hard to make. Let’s see when it actually ships. Here’s the obligatory video with Adam Lisagor – I don’t think you can be a startup in San Francisco without him getting involved.
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