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Coin

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Re: Coin

#561

Post by willshowalter »

sopooneo wrote: post #553
AdamTReineke wrote: post #489

Earlier quoted context omitted.

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?

Older ones did. Newer ones tend to run over the internet. They don't tie up a phone line at either end of the connection, and the information transfer is much quicker, so in most circumstances it works better for everyone.

Re: Coin

#563

Post by nevster »

brotchie wrote: post #529
bloopletech wrote: post #503

Earlier quoted context omitted.

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.

I was thinking the same thing. A full 60% of MasterCard and Visa transaction are now paywave/paypass. That's pretty impressive uptake, and I'd imagine it will be just as quick one introduced en-mass overseas. Would love to know Coin's development path for this eventuality! "Australia leads the world in contactless payments, which have grown from almost zero three years ago to more than 35 million transactions a month…

It's times like this that show how backwards the US is in many things.

The whole time I was watching the video, I was thinking "Huh - who swipes their card any more?!"

Re: Coin

#564

Post by guiambros »

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 can't remember the last time any merchant took an imprint of my credit card. Certainly not this year, not even on large transactions.

Given your large average ticket, it makes sense to be extra paranoid and take an imprint (mostly to avoid scammers), but certainly doesn't apply to 99% of merchants.

I don't think this would be a roadblock for them. Unless, of course, Visa/MC/Amex finds some obscure legal clause (or technical way to detect the different card) to shut them down.

Re: Coin

#566

Post by RockyMcNuts »

skadamat wrote: post #411
omegaworks wrote: post #346

Earlier quoted context omitted.

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.

Exactly, just more for Uncle Sam. At least credit card companies are re-investing their profits to cut down fraud and try to make money transfer easier in general. Could they be doing more? Of course, but the CC corporations have done a lot of good, even for the little SMB / mom & pop shop. The transaction rates these companies charge is very low, and that's all thanks to the competition that has driven down the pric…

for almost a second I thought you were serious.

Re: Coin

#567

Post by purephase »

jhandl wrote: post #535
tiglionabbit wrote: post #443

Earlier quoted context omitted.

I use this wallet: http://www.vat19.com/dvds/the-mighty-wallet.cfm It's paper thin, but strong enough that it hasn't fallen apart after years of use. It only has 6 pockets though, so it's not going to separate all of your cards.

Hmm. No offense, but that looks like somthing my 12 year-old son would use. I can't be seen with that! :)

I've used the Smart Money Clip for about 6 years and love it.

http://www.smartmoneyclip.com/

Re: Coin

#568

Post by [deleted] »

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…

[deleted]

Re: Coin

#569

Post by purephase »

dakrisht wrote: post #388
willimholte wrote: post #353

Earlier 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.

So, it's like losing your wallet then.

Re: Coin

#570

Post by kparashar »

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…

We have already built basic precautions where Coin couldn't be used for skimming. Give us ab it more time to show how when a Coin user walks through the door, you can count on a valid user.
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