debeast
(o)(o)
Posts: 238 
Likes: 44
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Post by debeast on Dec 13, 2013 12:50:51 GMT
Hi all, Just saw this on the subboard investors on reddit onlycoin.com/ it looks like its only US at the moment but i would LOVE it if it worked with chip and pin. But actually it would be pretty cool just for all my reward cards too!  /beastie |
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Post by bracknellboy on Dec 13, 2013 13:04:45 GMT
Cool. Yes please: including loyalty cards....
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Post by elljay on Dec 13, 2013 14:41:22 GMT
Very nice, but why "coin"? Surely "card"?
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Bagman
Member of DD Central
Posts: 208
Likes: 129
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Post by Bagman on Dec 13, 2013 15:04:02 GMT
I hope that this never gets up and running, as I sell lots and lots of credit card holders and big wallets / purses in my Leathergoods shop.
The bloke could really dent my sales with his crazy invention 
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Post by jevans4949 on Dec 13, 2013 17:31:25 GMT
Only snag: if you lose it, you've lost them all!
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Post by uncletone on Dec 13, 2013 19:41:28 GMT
Bugger. I would happily pre-order one. Brilliant! Then the dreaded, but expected: Q. Will my Coin work outside the U.S.? A. Not in all cases. Why, oh why, do the Americans get all the good toys? And why do so many of them never make it to third-world countries like us?  |
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Post by jevans4949 on Dec 14, 2013 2:45:40 GMT
I did see a brief mention of this on one of the TV technology programmes about a week ago - so maybe it will arrive here soon.
It looks like it simulates a mag stripe card; these are going out of fashion over here. They may decide to go for simulating a contactless payment card - which is highly dangerous IMHO.
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ribs
Probably not James Marshall
Posts: 148
Likes: 151
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Post by ribs on Dec 15, 2013 12:05:39 GMT
Contactless isn't too bad, as then it's limited to £15, and I believe you can opt out. And your bank/whoever should refund any dodgey transactions done with contactless. But this coin thing? Good God no. I'm avoiding that like the plague. What happens if the person you give the "coin" to changes the which card pays? That thing isn't smart enough to read fingerprints... What about proving you didn't pay for something with a specific card? The CCTV will show you handing over a coin, anything could've been loaded onto it... etc. etc. Yeah, a neat idea in some ways, but this thing has huge holes in it. And whilst Chip and Pin isn't exactly bullet-proof, it was at least a step in the right direction. With coin, we're going back to easily forged mag-strips and signatures. An interesting article is here: money.cnn.com/2013/11/20/technology/innovation/coin-card-startup/Seems that coin haven't fully thought this through before going public. And I can see them having a really tough time convincing merchants to take it seriously. |
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debeast
(o)(o)
Posts: 238
Likes: 44
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Post by debeast on Dec 16, 2013 12:25:29 GMT
Thanks for that Still even if it was just loyalty cards i'd be happy. I could potentially carry about 20+ with me but choose to only carry 3 I can dream! /beastie |
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Post by jevans4949 on Dec 16, 2013 13:03:06 GMT
Years ago in my youth I dreamed of such a card; with the increasing risks of theft and fraud, and the increasing indispensibilty of cards, I think it may be an unnecessary risk.
And if it's going to cost me just to own one ...
Is this thing really just a solution looking for a problem?
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