Aside from the cheeky, and possibly misleading name, Coin is a product that could go a long way to helping us solve the issue of fat wallets. After all, why carry so many pieces of plastic when you can just carry one? It’ll have additional hurdles in countries where security chips are implemented in cards, instead of just relying on the magnetic stripe. The good news is that the folks behind Coin are already aware of this and working to offer support for chip and pin future versions.
In a brief demo of Coin’s technology, I can confirm that it actually works: Simply swipe your cards using a card dongle like Square’s and Coin’s app securely stores all of the card information for you. You can hold up to eight cards on the Coin card at once, which you can cycle through using a small button and display on the front of the card. Paying is as simple as swiping like a normal credit card.