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Coin

onlycoin.com

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Re: Coin

#261

Post by [deleted] »

huhtenberg wrote: post #224
tedivm wrote: post #199

Earlier quoted context omitted.

Many credit card companies are starting to issue new cards which are completely flat, making it impossible to make imprint. My new CapitalOne card is an example of this. Is your company planning on refusing to do business with them?

These are "electronic" credit cards, they've been around for years and they are flat so not to be usable for offline processing (that's when they take an imprint, you sign it, they take the imprint to the bank and it settles in a week).

[deleted]

Re: Coin

#262

Post by pbreit »

arsenerei wrote: post #174
callmeed wrote: post #155

Don't forget there is also Loop, which reached it's Kickstarter goal already: http://www.kickstarter.com/projects/loop/pay-with-loop Personally, I like the idea of using my phone over the coin thingy. Also, I'm curious about how sturdy this thing is. Maybe it's my wallet or maybe I just shop too much, but I tend to wear out my debit card really quickly (< 1 year).

This is incredible. I like Loop a lot more than Coin, but I would not be comfortable handing my phone to waitstaff to take it to the back of the house. If they had an android case I'd buy immediately. I'm just not a fan of presenting my phone with the fob. For what it's worth, my cards last have lasted indefinitely in my wallet.

You give the merchant your card, not your phone.

Re: Coin

#263

Post by espadagroup »

thejerz wrote: post #212

Unless I'm missing something: if I lose my Coin card, ALL of my credit and debit cards are compromised. That's a showstopper. A thief could drain not just one account, but every account I have.

It deactivates completely when it's been away from your phone for a certain amount of time, which you can set in the settings.

Re: Coin

#264

Post by foobarqux »

Nursie wrote: post #231
pbreit wrote: post #227

Earlier quoted context omitted.

Because it's a massive cost for almost no gain.

Errr, did you read the part where fraud has dropped massively? And liability is more clear-cut and reasonable for pretty much all parties? --edit-- and did you think us Europeans just rolled it out for shits and giggles?

> And liability is more clear-cut and reasonable for pretty much all parties?

Meaning shifted entirely to the consumer?

Re: Coin

#265

Post by mephi5t0 »

A lot of cards also moving towards a smart chip implementations on cards. Also I carry 3 cards with me, 2 CC and a debit. Perhaps I am not the intended customer for this thing, I do like gadgets but my wallet is fine for now. Still a very nice idea. I would def follow up to see what happens after Summer 2014

Re: Coin

#266

Post by fps »

Nursie wrote: post #231
pbreit wrote: post #227

Earlier quoted context omitted.

Because it's a massive cost for almost no gain.

Errr, did you read the part where fraud has dropped massively? And liability is more clear-cut and reasonable for pretty much all parties? --edit-- and did you think us Europeans just rolled it out for shits and giggles?

Credit card fraud is generally not a problem in the US for consumers or the credit card companies, the two groups that would be in a position to adopt a new credit card technology. The merchants accept all the liability in the US credit card system, and they're at the mercy of the credit card company's policies, and the consumer's desire to use their card of choice or go somewhere else. As a consumer, I avoid cash-only businesses, and even tend to frequent ones that accept my card of choice (Discover) over those that only accept the cheaper cards (Visa/MC.) Businesses know this, and they're willing to accept credit cards so that they can earn most people's business.

Re: Coin

#267

Post by r00fus »

pbreit wrote: post #227
Nursie wrote: post #219

Earlier quoted context omitted.

I don't know why the US hasn't adopted EMV. It's not perfect, but it has cut down fraud massively here in Europe. They're very hard to clone (I won't say impossible, but attacks against EMV have not generally been of this nature) and the transaction records at both ends will tell you whether the actual, real card was there. The liability is more clear-cut as a result. If the customer claims the charge was unauthorise…

Because it's a massive cost for almost no gain.

if by that you mean no gain to the financial institutions who get a cut whether fraud happens or not, they yeah. No big gain for them = not happening.

Re: Coin

#268

Post by 3327 »

So are Coins waterproof? Because my credit card is weather proof. Just curious.

Re: Coin

#269

Post by bane »

taude wrote: post #250
kevincrane wrote: post #201

Earlier quoted context omitted.

Out of curiosity, what do you do that requires 16 cards on a regular basis? At some point, the limiting factor of how many cards you can carry becomes your pant pocket (or purse). My jeans wouldn't stand more than a few cards and far less than 30.

Here's my list: * Costco membership card * three loyalty shopper cards for my common stores (I need the physical card because none of the apps I've tried using that scan the bar codes work with store scanners) * a card to pay for my train rides, * bank debit card for ATMS * business credit card * personal credit card * medical insurance card (this one would be easy to just use a photo of) * AAA card (would be easy to…

Don't know if your personal card is an Amex or not, but my Amex is a Costco Amex and doubles as my membership card.

I'm surprised your loyalty cards aren't the smaller key ring ones. I have half a dozen on my keys and barely notice them.

I leave my AAA and Airline cards at home and pull them out when I need them for trips. Could probably do the same for your Zip Car card (unless you use the service multiple times a week or something) and other rarely used cards.

Last year my medical insurance company switched to paper cards which are much thinner and easier to deal with even if they're less sturdy. Same as my car insurance.

All that being said I still walk around with about a dozen cards in my wallet, so I can definitely sympathize. But I could probably edit out 3 or 4 right now and not really miss them.

Re: Coin

#270

Post by WayneS »

Here is a part that I don't get. Do they actually change the magnetic strip on the 'coin'? Or does it have a fixed VISA number that is tied to your ID and owned by the 'coin' company. Then they just use the coin app and the timestamp of the transaction to know which card to charge in the backend.

That would mean the company gets a log of all transactions.

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