Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Coin

onlycoin.com

Post reply on HN
Print view View original

341–350 of 720 posts

Re: Coin

#341

Post by ErikHuisman »

pbhjpbhj wrote: post #308
ErikHuisman wrote: post #175

Earlier quoted context omitted.

We've used pin (and now pin+chip) as long as we use cards.. I pay exactly 0% transaction fees and only a few euro per quarter. Merchants pay exactly 0% transactions fees and a small monthly subscription. It just works.

> Merchants pey exactly 0% transactions fees and a small monthly subscription. // Where's that?

The Netherlands. I looked up pricing. It is actually not 0% but €0.06 per transaction above the first thousand transactions (which are included in the bundle). The rent for the box and connectivity (mobile or dsl) is also included.

Re: Coin

#342

Post by vacri »

wtbob wrote: post #313
rmc wrote: post #288

Earlier quoted context omitted.

I think in your scenario, a good fit would be a cigarette case that you'd keep in your front pocket. Eurpean here. I was shocked to learn many USAian men keep their wallet in the back pocket. How do you sit on that?

I have a money clip, a smart phone and keys. Phone needs to be in a front pocket so that I don't sit on it and break it. Keys need to be in my front right pocket so that they are accessible and I do not sit on them and never sit again. Thus my billfold must go in one of my rear pockets.

Phone is too big to be comfortable in a pocket, so I use a horizontal belt clip, which is pretty unobtrusive, especially if you wear a jacket or loose shirts. Wallet and keys in front pockets, leaving my arse free for comfortable sitting.

Re: Coin

#343

Post by justncase80 »

I wish your phone had some kind of a unique ID it could broadcast. Then you could take it to the bank and they would associate it with your account, then you could just use the phone as your card. You just hold it over the receipt thing and push a button on an app and boom done.

Now if you could get my phone to be as slim as that Coin that would be pretty sweet too.

Re: Coin

#344

Post by dakrisht »

nawitus wrote: post #320
dakrisht wrote: post #272

It's a neat concept, but I just don't think this gets anywhere. Dead in the water - as much as I would personally like to see them succeed. The biggest problems here are security. () Merchants will hate it since there is no physical imprint / swipe of the bank-issued card. This will lead to chargebacks in favor of the customer. So this alone kills this company/product. () Banks might change their terms forbidding cus…

'() Merchants will hate it since there is no physical imprint / swipe of the bank-issued card. This will lead to chargebacks in favor of the customer. So this alone kills this company/product.' Apparently this criticism is not valid, since physical imprints / swipes are rare in Europe.

Apparently, you don't seem to understand that this is how things works in the United States, where this product is intended for sale.

Perhaps learn/read about how the payments process with respect to credit card transactions and chargebacks work in the US before commenting.

Additionally, read about Coin, which doesn't work in Europe and doesn't support EMV.

:facepalm:

Re: Coin

#345

Post by potatolicious »

kintamanimatt wrote: post #168
jljljl wrote: post #164

Earlier quoted context omitted.

Stories are fun, let me try one :) "I go to pay at the checkout counter. Oh wait! I suddenly remember I have a rewards card here. Good thing I carry it in my wallet along with the other 10 rewards cards I have...shoot, which pocket did I put it in? Maybe it's here? no wait...oh shoot, now I have to take all the cards out. I know it's a red card, but so is my Target and Walgreens card. Now all my cards are out all ove…

That's not ever been my experience at least, even when I carried every rewards card I'd ever applied for! In fact I can tell you where everything is in my wallet right now without even looking!

Seriously, someone downvoted you for knowing where your stuff is. Keep it classy HN.

Re: Coin

#346

Post by omegaworks »

fps wrote: post #266
Nursie wrote: post #231

Earlier quoted context omitted.

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-on…

I love cash-only places. You know all your money is going to the hard working people making your sandwich instead of the big four credit card corporations.

Re: Coin

#347

Post by typicalrunt »

It's a neat idea, but what I'd really like to see is a way to use randomly-generated numbers as my credit card for one-time payments instead of handing over my full credit card details to an online store. I hear this is done by a few credit card companies now but I have yet to see it in Canada.

Coin could even take this idea one step further and allow you to store your credit card, but when you swipe their card it provides the merchant with a randomized credit card number useful only for a one-time purchase. Now that'd be cool.

Re: Coin

#348

Post by dakrisht »

rexreed wrote: post #25

How would you prevent mass credit card theft in this case? Couldn't an unscrupulous person, say a waiter at a restaurant, take your card, use his/her own Coin to make a copy of your card, add it to their own Coin, and then use that card at their leisure at a future date? I know, the same question was asked re: Square and the like, but the difference is that you need a Square account to steal other people's cards, and…

You wouldn't.

You actually increase the chances of fraud/loss/theft/errors with Coin.

It creates more problems than it solves (which is unfortunate, since it does have the "cool" factor going for it) That only goes so far.

Re: Coin

#350

Post by pbhjpbhj »

Isn't this back to front ... surely you need a trusted player and then you need Amex/Visa/Mastercard to be able to use that token (the credit card) to aid identification of a person.

So the card would be like Coin's but would have fixed credentials. Then when you open an account you'd provide your ID for the bank to register (or sign the registration with your public key); that account would be added to your card as an option.

Post reply on HN