Categories
disruptive technology mobile development usability

Bank on Coin as all-in-one credit card? It could cost you

Recently a credit card-sized device called Coin has been developed that allows users to store all of their credit cards on one device and select which card they want to use by pressing a button. This is very convenient for people that use multiple credit cards due to the small size of the device and the convenience of only having to carry one card around instead of many. The device includes built-in encryption and alerts the user if their Coin card surpasses as certain range from the linked smart phone. According to this article there a couple areas of concern. First, the battery that powers the device only lasts for up to two years of regular use. This means spending $100 every two years to obtain a new one since there is no way to recharge the battery. Second, convenience is questioned by many in terms of smart phone alerts when the card reaches a certain distance from the phone. False alarms may become a problem when the waiter/waitress takes the device for payment processing, which could prove to be very annoying and defeat the convenience the device creates. A third concern is if the device is somehow damage or lost, the user must get a new one. Even though there are problems that could arise with this new technology, I personally believe the convenience it creates outweighs the concerns talked in this summary.

Source: Bank on Coin as all-in-one credit card? It could cost you

Leave a Reply