591–600 of 720 posts
0_0 This is one of the worst ideas I've ever seen. Yes, let's put all of my cards in one card so that if it's stolen, then all of my cards are gone. @#$%^ing brilliant!
Try reading the FAQ before your vomit more words onto the screen.
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But how many of the cards in your wallet could be replaced by Coin? For me it's maybe three. If it can't replace nearly all of them it seems pretty pointless to me - I'm still going to be carrying my wallet, it'll just have two fewer cards in it. Yay? In any case, it does seem odd to build a business around something that is virtually guaranteed to be extinct in a few years time.
What about bars? A lot of bars I go to hold onto your card until you tab out. I'd hate to keep getting notifications about losing my card every time I'm out on the town. When you go back up to the bar, they ask what your name is to tab out. I didn't see anything on the Coin to do that. I also wouldn't want the bartender to press the button and change to a business account or something similar. I'm not being a hater,…
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 can already steal credit cards really easily. When you hand your card to the waiter, there are machines that will save that number and you can write it to a blank card easily. They can also jot down your security number. This might make it marginally easier, but it is on one service and tracked.
I 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…
The entire smartphone industry for the last five years has been driven by people paying hundreds of dollars to make their phones a few mm thinner. Why not their wallets? This isn't for your ATM card or your driver's license, it's for those random cards that you either never carry or fatten up your wallet.
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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'll let you in on a little secret - paywave/paypass etc are EMV cards. The interface is wireless and they have a shorter transaction flow. There are less (zero) customer validation techniques, final evaluation (pass/fail) takes place at the stage a 'normal' EMV transaction would decide on pass/online/fail. As usual there are variations between implementations, but underneath it's all good-ol' EMV :) So I doubt that…
Q. Can a Coin be used to skim cards?
A. No. You can only add cards that you own to your Coin.
[1] Who am I kidding? I love being pedantic.
however, $100 is way too much for what is basically a very minor convenience. $50 is too much. For $20, I'd consider it.
from a business perspective, I wonder if they have deals with the banks. I wouldn't be surprised if they get slapped with some cease n desists just because the megabanks want their shiny pieces of plastic on display at all times.
Earlier quoted context omitted.
You can already steal credit cards really easily. When you hand your card to the waiter, there are machines that will save that number and you can write it to a blank card easily. They can also jot down your security number. This might make it marginally easier, but it is on one service and tracked.
I have a question - why is the guy in the video giving the card to waiter? What he is gonna do with it, he doesn't know the PIN number to charge it. Or in USA you can charge without PIN? Besides if he can just charge without PIN he also can just push button on the card to charge whatever account he wants, doesn't he?