Coin

[RJKarl]

http://money.cnn.com/2013/11/17/technology/innovation/coin-startup-credit-card/

Looks like they could have the same problems wer did:

"Credit card companies might nix it: Coin hasn't secured approval with any of the major credit card issuers and networks it hopes to work with, nor has the company gotten a sense of whether the industry would embrace it."

I would not be surprised if the merchants or credit agregators would make put a PIN on this type of card to guard against fraud.

 

[RedSoxFaithful]

Looks like they could have the same problems wer did:

"Credit card companies might nix it: Coin hasn't secured approval with any of the major credit card issuers and networks it hopes to work with, nor has the company gotten a sense of whether the industry would embrace it."

I would not be surprised if the merchants or credit agregators would make put a PIN on this type of card to guard against fraud.

Link to your CNN hype article pls

 

[TBR]

Tardawg is correct. It will be completely transparent to the networks whether the real card was swiped or the Coin card since identical track data (from the magstripe) will be presented to the merchant's POS.

Cookout correctly identified the biggest issue- why would a merchant accept this form of payment if it is not branded like a traditional card?

I don't see signature verification as a big issue as a signature panel could be added to the back of the Coin card which could then be validated against the name present in the track data (which is frequently printed on receipts in most of the world).

IMO, using BLE to write track data to the magstripe on the Coin card is rather brilliant.

I don't think I have ever signed the back of a credit card. Never had anyone even so much as look..don't really think signature verification is a big deal at all. And I charge virtually everything..which is a lot since I travel for work. Do other people have different experiences?

I carry a lot of credit cards..this would definitely save some wallet thickness, which would be nice, but I don't know how I feel about it. Seems like I'd end up charging something to the wrong card. I'd probably end-up just putting the cards on it that I could / probably should stop carrying around anyway because I don't use them (a debit card for an account that I basically never use, a credit card that I signed up for purely for the bonus miles, and a credit card I use for recurring bills only). My main two or three cards I'd keep.