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RevDeac06

RevDeac06

OGBoards Chaplain
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Pretty neat new technology that combines credit/debit cards into one card.


If you're interested in getting one, I'd appreciate using this link so I can get credit for the referrals.
 
Prepaying for a product that ships Summer of next year, OUT.
 
Not sure it would rly help me either, would only be able to put 2-3 cards on it and I'd also probs keep one of those around as a backup since some stores might have issues taking this.

Seems like it would have been a great idea about 5 or 6 years ago, before we started moving towards NFC/cards with chips.
 
gonna be pretty devastating to leave that thing at a bar.
 
cookoutdeac said:
Not sure it would rly help me either, would only be able to put 2-3 cards on it and I'd also probs keep one of those around as a backup since some stores might have issues taking this.

Seems like it would have been a great idea about 5 or 6 years ago, before we started moving towards NFC/cards with chips.
Click to expand...

are you saying that cards with chips won't be able to be downloaded onto the coin?

and i imagine its pretty easy to lock this thing down if you lose it/leave it at a bar
 
I'd rather someone figure out how I can just use my smartphone and dump cards/cash altogether
 
About 8-10 years ago, we tried to do this. Visa didn't let it happen.

A big issue with this will be merchants will pay about .5 -1% higher for people who use this card. It will be considered card not present.
 
buckets said:
are you saying that cards with chips won't be able to be downloaded onto the coin?

and i imagine its pretty easy to lock this thing down if you lose it/leave it at a bar
Click to expand...

the whole point of chipped cards is that you can't reproduce them/copy them.. cuts down on card/swipe theft.
 
ImTheCaptain said:
I'd rather someone figure out how I can just use my smartphone and dump cards/cash altogether
Click to expand...

Right, NFC is one of the things we should be aiming towards, rather than adding some technological complexity on top of an already shitty payment system.
 
I think what irks me the most is that this is basically a kick starter campaign for a potential product, w/out the up front advertising of that fact.
 
Do you know this for a fact? Seems like if it is still swiped and the same digital information is transferred to the merchant machine the merchant services would never know the difference.


As far as the comment above about leaving it at the bar, the video shows how it sends you a notification if your cell phone gets a certain distance from the coin.


RJKarl said:
About 8-10 years ago, we tried to do this. Visa didn't let it happen.

A big issue with this will be merchants will pay about .5 -1% higher for people who use this card. It will be considered card not present.
Click to expand...
 
Rev. Just signed up, let me know if the referral commission comes your way.
 
TARDAWG said:
Do you know this for a fact? Seems like if it is still swiped and the same digital information is transferred to the merchant machine the merchant services would never know the difference.


As far as the comment above about leaving it at the bar, the video shows how it sends you a notification if your cell phone gets a certain distance from the coin.
Click to expand...


I'd actually be more concerned w/ losing my phone with this thing (or breaking the phone) since enough time "not talking" with the phone will disable the card iirc.
 
Good point but only locks the card, so if you have plugged in your phone to back up after you entered the info, you should be able to restore all information on your new phone and unlock your card. I will certainly keep one additional card in my wallet as a back-up. But between work cards and personal cards I am currently lugging around eight cards.
cookoutdeac said:
I'd actually be more concerned w/ losing my phone with this thing (or breaking the phone) since enough time "not talking" with the phone will disable the card iirc.
Click to expand...
 
TARDAWG said:
Good point but only locks the card, so if you have plugged in your phone to back up after you entered the info, you should be able to restore all information on your new phone and unlock your card. I will certainly keep one additional card in my wallet as a back-up. But between work cards and personal cards I am currently lugging around eight cards.
Click to expand...

Once again, adding a lot of technological complexity to solve a relatively minor problem (you're still having to carry a wallet w/ multiple cards in it, you've just lowered that # slightly and now one of them is more fragile and worth a lot of money).
 
TARDAWG said:
Do you know this for a fact? Seems like if it is still swiped and the same digital information is transferred to the merchant machine the merchant services would never know the difference.


As far as the comment above about leaving it at the bar, the video shows how it sends you a notification if your cell phone gets a certain distance from the coin.
Click to expand...

I absolutely know this for a fact. Swiping a product like that was no different to the aggregators or Visa than typing in the number. It's possible they are paying Visa something, but Visa does make the rules.

Our product was actually more secure than this one in that the encrypted numbers on our card simply gave access to our system rather than giving the actual numbers.

Also if someone breaks the notification code, you are totally at the will of the person who has your card.

I didn't see a critical issue about the card's security on the video. It looked like there was basically a way to dial which card you wanted to use and it then encrypted the magnetic strip to be used. If there is no security to get into the product if you lose it, anyone can pick it up and use, or if they have one, they can download your data to their device.
 
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