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Coin

onlycoin.com

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Re: Coin

#551

Post by sb23 »

dzink wrote: post #548

Nice execution. I saw several pitches for unifying cards while working for a VC. As a consumer I have a few suggestions: 1. Make the card switch/activation button detect the fingerprint of the owner. (The merchant or waiter sliding the card could press the button accidentally and switch to a different card) 2. Show me that a tap-scanning tool can't take the data for all of my cards. (from hackers to accidental taps)…

3 and 4 were answered in their FAQ - a stronger than average electro magnet will break Coin, and Coin is automatically disabled when it's out of range of your phone.

Re: Coin

#552

Post by musclman »

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…

Your business is a fringe case that you admit takes "super extra precautions", which clearly doesn't represent the majority of merchants. In fact, as a consumer I can't remember the last time a merchant took an imprint of one of my cards.

Re: Coin

#553

Post by sopooneo »

AdamTReineke wrote: post #489
coldtea wrote: post #478

Earlier quoted context omitted.

As an avid road fan, I've been in 47 out of 50 states (no Hawaii, Alaska or Vermont) and roadtriped around 50.000 miles, in the course of 7 years. I've stayed in hundrends of small cities, from Ogalala, NE to Ozona, TX and Oatman, AZ, and used my credit cards for all kinds of purchases, from Kroger and CVS, to outlet stores, gas, local shops, small eateries, fast food places, restaurants etc. Never had a vendor inpri…

It still happens. I had it happen at a gas station in the middle of nowhere Nebraska or South Dakota (where he probably didn't have internet) as well as at a gas station in a bigger town where their internet was out.

I was under the impression a lot of swipe machines used plain old phone lines. No?

Re: Coin

#554

Post by davemel37 »

Im curious if Coin will capture my purchase data when I swipe. It's bad enough credit card companies sell my data...I am super paranoid about Coin doing the same thing.

Re: Coin

#555

Post by sopooneo »

revelation wrote: post #391
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…

So that's why this video was so confusing to me. It was essentially this guy sliding someones card (he claims it's his, but neither the device nor the card know, right?) and then happily paying stuff with it through his fake replica (or the high-tech version of it, the 'coin'). It seemed like a completely unusable system for it's complete lack of any security. (Particularly if you consider there are now live payment…

That brings up an off-topic point I've always wondered about. If apple will not make it possible for third party devices to interface with the iPhone through the normal port, why do approve apps that rely on hardware using the audio jack this way?

Re: Coin

#557

Post by Mister_Snuggles »

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…

Canada has adopted EMV very quickly. Within only a few years, I went from swiping everything to swiping almost nothing.

Re: Coin

#558

Post by Mister_Snuggles »

dgallagher wrote: post #455
outworlder wrote: post #390

Earlier quoted context omitted.

As a Brazilian, I think the US banks are very strange. "Swipe" cards have been phased out years ago - you'd have to try hard to find a bank which will still issue one. Specifically because you can no longer find ATMs which rely solely on the magstripe. Some banks have biometric fingerprint readers (where you put in your hand and it reads multiple fingerprints at the same time) in addition to the PIN code of the debit…

Very interesting, thanks for sharing. You hit on something though; in the U.S. there are tens of thousands of ATM machines all over. They all accept PIN numbers, and I "believe" magnetic-strip as well (not sure if they're doing fancy stuff too with built-in chips or not). It's the standard that everyone uses; debit card and credit cards alike. To change that to support different tech, you'd have to upgrade all of the…

Canada already went through this. It started with the POS terminals, then gradually the cards were replaced with chip cards, then gradually the text on the terminal changed from "Swipe card" to "Swipe or Insert card".

From a consumer perspective, it was virtually painless. The biggest change is that credit card transactions now require a PIN (assuming a chip card and chip-enabled POS).

Re: Coin

#560

Post by Stealth- »

Mister_Snuggles wrote: post #558
dgallagher wrote: post #455

Earlier quoted context omitted.

Very interesting, thanks for sharing. You hit on something though; in the U.S. there are tens of thousands of ATM machines all over. They all accept PIN numbers, and I "believe" magnetic-strip as well (not sure if they're doing fancy stuff too with built-in chips or not). It's the standard that everyone uses; debit card and credit cards alike. To change that to support different tech, you'd have to upgrade all of the…

Canada already went through this. It started with the POS terminals, then gradually the cards were replaced with chip cards, then gradually the text on the terminal changed from "Swipe card" to "Swipe or Insert card". From a consumer perspective, it was virtually painless. The biggest change is that credit card transactions now require a PIN (assuming a chip card and chip-enabled POS).

Just finishing going through this in my province. The latest transition is that all gas pumps now suddenly require me to leave the card in. Yay for Chip and Pin!
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