Get Ready to Throw Out Your Credit Cards

My wallet is so fat. Not fat with money but with too many credit cards. Every time I have to pay for something I fumble for the right card. It gets so embarrassing. I just learned about a remedy. It’s called Coin.

Coin is a single card replacement for multiple debit, credit, gift, loyalty, rewards, and membership cards. An integrated display right on the Coin card shows you which card you are using by providing the last four digits, along with the expiration data and security number.

The Coin card works with a mobile app for iPhone, Android, and soon Windows. The app manages the physical Coin card. You can load an unlimited number of your cards into the app. Then you can transfer up to eight of them at a time to the Coin card using a supplied dongle (adaptor). You can change that card you’re using with just a press of a button. The Coin card can also be used at an ATM machine.

“We have a concept called a leash,” says [Coin CEO Kanishk] Parashar. “What that means is that if your card is near your phone it’s working, but if a leash breaks, which could happen if you leave it behind or someone steals it, it will lock down and keep your financial information secure.”

More neat security features abound, as they should. If you lose your Coin card you receive an alert and can deactivate it. Coin will also be equipped with an alarm that notes how many times your Coin is being swiped. And if swiping patterns deviate in frequency from your normal use, it alerts you to potential fraudulent activity. You can also lock down one particular card so that friends, waiters, or strangers can’t swap to a different card on their own.

Priced at $100, Coin will be available next year. A 50% discount for pre-orders is available via the website for the next 20 days.

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