A company called Coin has announced an update to its electronic wallet now called Coin 2.0. This electronic magnetic stripe card supports the latest EMV cards and NFC , similar to Samsung Pay contactless digital payment service. “Customers will be able to enable EMV compatibility through an over-the-air software update.”
In term of NFC technology, there is a mobile companion app that will list down all the payment cards that are compatible with the Coin 2.0 card, after that customers will be able to transact with ‘Tap to Pay’ with the selected payment cards.
This technology was originally launched via Kickstarter campaign and as usual, they’ve found some minor issues while testing the card as it is not compatible with other credit card providers.
The good news is – first-generation Coin owners can now ask for a replacement for the newer version for free as it will be forced out to upgrade all owners with the new Coin 2.0 wallet.
Personally, I like this kind of transaction especially for the Samsung where they need to use the finger print sensor to allow and complete a transaction which is a great security measure to avoid problems that happened using the manual methods of payment.
These kind of payment services looks hassle free as you just need to set-up and connect all your credit cards to the Coin 2.0 wallet and you are ready to transact wherever you are, both online and offline which sounds good to me, honestly.
“Coin 2.0 devices are shipping today with NFC in early access mode as the company finalizes integration with the necessary financial institutions in the coming months,” the company says.
Coin’s latest generation of their digital wallet Coin 2.0 will be priced at $117.50 with free shipping and it will be launched Q1 next year.