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Coin

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Re: Coin

#501

Post by X4 »

wow, I think this seems to be HOT Topic, took a while for me load this.

I know of an alternative that I bookmarked a long time ago. Have just submitted a link to their landing page, they're practically doing the same, but allow more card types to be fused and it's a mini-computer. They were on the market much earlier than Coin and it looks very prestigious & elegant.

The alternative card can be found here: https://news.ycombinator.com/item?id=6736606

(A post, because I'm curious how the Echo is worse or better, without interrupting the Marketing of the Coin, on this board)

I am not sure how to think about this in general, but @nlh has really good points. I agree with him that he needs the imprints, but to be honest, those imprints don't guarantee security.

Re: Coin

#502

Post by Ryoku »

This is one of the worse ideas I've heard of; security wise. Not even at a tech-level. All your data and credentials are a robbery away. Of course, if you get robbed you can probably call in your credit cards from your cellphone... oh... Now, on the tech side... magnetic? Really? We've been through this, it's not secure. It might sound secure in an ideal world where the user doesn't do stupid things like handing over both the card and the phone to someone just to avoid getting the notification or to be shown how it works... or because it's a "store requirement". But we are not in that world, nor we will be.

Re: Coin

#503

Post by bloopletech »

Nursie wrote: post #219
nlh wrote: post #167

SUPER 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…

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…

In Australia, we've even moved beyond EMV; the majority of merchants now accept Visa PayWave and MasterCard PayPass for tap-and-go.

[edit: Oh, and all my debit/credit cards are now paywave/paypass enabled, and they are all from the big 4/5 banks]

The Coin page doesn't mention this at all; does it have this? If not, it sounds like a step backwards.

Re: Coin

#504

Post by lambda »

bane wrote: post #269
taude wrote: post #250

Earlier quoted context omitted.

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 w…

The problem is any time you edit some of them out, you realize soon after that you don't have the one you need. If I don't carry around the cards I will need every day, I am likely to forget to take the ones I need only occasionally when I do need them.

The problem is that Coin doesn't really solve this. It only encodes credit cards; most of the other cards either don't have mag stripes or require other information on the cards than just what's on the mag stripe.

Re: Coin

#505

Post by freshrap6 »

liyanchang wrote: post #283
busterarm wrote: post #254

Earlier quoted context omitted.

I want chip and pin cards SO BADLY here. Mainly because it would make my trips to Europe a lot easier, where many systems I've encountered won't work on some non-EMV cards.

Chase Sapphire Preferred offers EMV cards[0] and no foriegn exchange charges. Makes a good travel card. [0] Technically: chip-and-signature rather then chip-and-pin. Also, you have to ask for the EMV but they're super friendly about it.

Bank of America has a similar one too, and it doesn't have a yearly fee.

Re: Coin

#506

Post by Tomdarkness »

steven2012 wrote: post #450
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…

EMV where you need to input a PIN Number is simply a way for VISA/MC to push all the liability onto the customers for stolen credit cards. If a purchase is made with the credit card and PIN, then the issuing bank can simply let the liability fall on the customer, instead of the bank eating the costs, like how it's done today.

In the UK at least this is not true. The bank have to demonstrate you did not take reasonable care to protect your PIN (e.g you left it written down in your wallet).

See some of the following case studies by the FOS that support the fact that the customer is not always liable even if the PIN is used:

http://www.financial-ombudsman.org.uk/publications/ombudsman...

Re: Coin

#507

Post by Amygaz »

It's not bad, but I feel it will be short lived. Like other pointed IC cards are standard in many countries and are coming to the US.

Moreoever, I'd rather have my smartphone do it all, and by all I mean all: cc, id, insurances... Most places I care about now accept IC cards and RFID, which means I should be able to pay directly by pointing my phone at something while punching an sending a encripted 4-digit pin.

Using Google Wallet, Paypal, Square and others would be even better. It's coming and the pace is just accelerating...

Have a good one!

Re: Coin

#508

Post by miralabs »

here I am thinking magstripes are obsolete. where I stay (Singapore), most transactions are done via EMV. Its rare to find the use of magstripes.

Re: Coin

#509

Post by artrlee »

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…

I managed to cut down the bulk in my wallet by 3 cards by photocopying the barcode side of my loyalty cards and sticky taping them to other cards which don't need to be swiped (nfc based transport card, nfc based car share card)

Re: Coin

#510

Post by vitalus »

Love the idea!

I'm pretty obsessed with keeping the wallet light & thin - this seems to help out with that.

I wonder if this could potentially store other cards in some way as well? Gift cards etc - would be super convenient.

Incredible to squeeze that much tech in such a thin form factor - would love to see the internal hardware

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