New Way To Pay: ‘Coin’ E-Card Stores All Cards in One

With so many credit cards, debit cards or loyalty cards in your wallet, how about a card-of-cards to hold them all? That's exactly what a start-up called Coin is offering.

The card in question is the size of a credit card, contains a small digital display, and stores the data from up to eight credit, reward or other cards. A button under the display allows the user to select which of the Coin-stored cards to use, and then the Coin card, which has a magnetic strip, can be swiped and used just as any of those cards can be.

To enter all those cards, there's a card-swiping dongle that attaches to the headphone jack on an iOS or Android phone or tablet. A user swipes a credit or other card, takes a photo of the front and back of the card to record which one it is, and types in card details. This data, stored in the mobile app, is then transmitted via Bluetooth to the Coin card. If desired, a user could swap in or out of Coin any eight of the unlimited cards on the app. Coin is not designed, however, to store identification cards, such as a driver's license.

'Like Your Wallet'

Founder Kanishk Parashar told Forbes magazine that people don't need eight cards on every day, so "your phone is kind of like your drawer, and your Coin is kind of like your wallet."

If a user forgets the Coin card on, say, a restaurant table, a Bluetooth signal pings your phone to let you know your mega-card has been left behind. If the Coin card loses contact with the phone for a preset length of time, the card will deactivate itself. If the phone itself is lost, the Coin can be re-paired with another phone, once the...

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