Wow, i wonder if bitcoin can be integrated into this somehow
me too.
Coin
401–410 of 720 posts
Re: Coin
#402I wonder how this would fare in an ATM. What happens if the ATM accidentally presses the card selection button? If the ATM gobbles the card, now you've effectively lost your entire wallet. What happens if the cashier presses the card selection button while running your card too? Oops, now your boss wants to know why you've just paid for your groceries on the business credit card and why you've cloned your business cr…
From the looks of it, it will handle rewards cards and whatnot just fine. If I could just store my Qdoba, Panera, Gameworks, Dave and Busters, REI, Best Buy, Safeway, Kroger, etc. cards on one single card. Now I can keep as many rewards cards as I want, without having to stuff my wallet full of junk I don't need 99% of the time. The money I save from rewards cards I wouldn't normally carry would probably pay for the…
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Re: Coin
#403Earlier quoted context omitted.
I love the idea behind Coin but what I need is a fat wallet. I carry 19 cards, of which 16 are essential. Some of them are not for swiping so they wouldn't benefit from Coin. The solution for me is a wallet that can hold 20 to 30 cards, but as far as I can tell there's no such thing.
It's less than 19, but perhaps the coolest card wallet on the market. Their kickstarter was a HUGE success. Maybe get two of them? http://www.ridgewallet.com/ http://www.kickstarter.com/projects/124039987/the-bridge-fro...
I have a Titanium Ridge, it is really nicely made, but I found it scratched my phone's screen.
Re: Coin
#404Earlier quoted context omitted.
I like this randomized credit card numbers idea but I don't understand how it would work? How would the terminal know it's debiting your account? Where would the authentication take place? Where would the randomization take place? And what would this be based on? Credit cards are actually very simple in nature (and why there are billions of dollars of fraud occurring every year). It's simply an account number printed…
Presumably the idea is that the account number (i.e. credit card number) is randomised for each transaction - but still valid. So authentication etc. would happen exactly as it does right now. But that number would become invalid immediately after it is debited. That way even if someone intercepted the number they would not be able to use it in the future. Obviously this only really works for online transactions that…
I understand what randomizing a number means.
But this doesn't answer the question of how the terminal/processing system knows it's your account being debited?
The whole concept of randomization with payments (or anything for that matter with respect to authentication) is impossible. There will ALWAYS have to be some sort of static identifier in order for this to work. Common sense I think.
The idea is interesting but I'm not sure exactly what the idea is!! :)
If you have an AMEX and you randomize the account number on each transaction, AMEX still has to IDENTIFY your account with something? A name? A PIN? A unique ID? AKA an account number.
Re: Coin
#405I'm more concerned about the price point. Seems cool, but not a problem I spend a lot of time thinking about. I don't see myself spending $100 to solve the problem of carrying multiple cards on me.
I would maybe pay $50 for the beta card because I think it's super cool and I love trying new tech, but definitely not a price point I would pay to solve a problem that is hardly a problem at all. (to be fair, this might be one of those problems that you don't realize how bad it is until you solve it.)
I can't see myself paying more for this than I would spend on a wallet, which is less than $20.
Re: Coin
#406Hackernews is sometimes a contrarian's paradise.
Re: Coin
#407Earlier quoted context omitted.
>() The obvious issue of losing Coin and losing everything. People like backups. It's a mindset. I fail to see how Coin is a lack of backups. If having two copies of a card isn't 'having a backup' what is?
You're missing the point here. It's about losing all of your cards when you lose one. And most people aren't going to spend money ($100) on one - yet alone TWO - cards vs. the free cards they get from their banks 24/7. If I lose my Amex, I can walk into an Amex office and get a free card in under an hour. Or have it overnighted for free.
This is purely anecdotal: every time I have lost one card I have lost all of my cards (because it's when I lose my wallet or the bag my wallet is in). In this case I'd be able to go home and grab my 'originals' and use those as my backup cards.
Re: Coin
#408It'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 pr…
I like this randomized credit card numbers idea but I don't understand how it would work? How would the terminal know it's debiting your account? Where would the authentication take place? Where would the randomization take place? And what would this be based on? Credit cards are actually very simple in nature (and why there are billions of dollars of fraud occurring every year). It's simply an account number printed…
If you're an issuing bank, then it's technically not that hard for online purchases - have a button on your netbank that will generate a new creditcard number (virtual card), show it to user and add it to your auth system - and block the number after it's used.
But IIRC the rules allow such virtual cards to be used only in online transactions, not for normal 'card present' sales.
Re: Coin
#409This is very neat and a super cool idea. However, there's no chip? I try to avoid non-chip cards as much as I can for security reasons. One more thing that crossed my mind is, what happens if you give this to the waiter, the waiter goes away to handle your payment and it happens to be outside of reach of your bluetooth ping; then you will most likely become worried that the waiter ran away with your card, or you will…
Well, don't give the card to the waiter? I was honestly spooked when my colleagues handed over their credit card to a waiter when I was in the US a while ago, leaving it out of their sight and hands for a while. We're warned in TV adverts here to never hand over your card - it could get skimmed by the attendant behind the counter. Less of a risk now that the magnetic strip is hardly used anymore, but still. Give someone a few minutes with a chip card and they can do plenty of things with it.
Paying by card here happens either by using a mobile card reader, or by just getting up and walking to the cash register before leaving. Much safer.
Re: Coin
#410SUPER clever idea -- kudos for that. In theory, this is awesome. As a consumer, I love it. As a merchant, however (which I am), there is no chance I would accept this. None. Unless the issuers (that is, Visa, MC, Amex) drastically change their policies, which I don't see happening anytime soon. Why? Because the issuers are very clear about a few things: When push comes to shove and it REALLY gets down to it, unless t…
Remember when the merchant used to imprint the cc with receipt paper and sliding a pen over it to get the card imprint. My how time flies.