January 12, 2016

Tek Shouts! Product Review: Coin, All Your Cards Wrapped In One

Image from CrowdFund Insider.

 




























By Ishita P.

Let’s face it, the number of cards we try to get rid of in an effort to make our wallets lighter only doubles and subsequently winds up right back into our wallets. It doesn’t quite help that we often use more than one or two cards on a daily basis. We have our ID cards, credit cards, debit cards, loyalty cards and even a few gift cards depending on the time of year. It is this first world problem that Coin strives to fix.



How Does Coin Help? 

It compiles all your cards into one sleek black card with a digital display that showcases the current card being used. Choosing cards is now easier than even the most organized wallet. It’s a simple click of a button!

Image from Before It’s News
Having got my hands on this technological masterpiece, my Christmas got a whole lot merrier. I dove under the tree right to my box, ripping the wrapping paper off in search of this black beauty. With the help of the app and card-swiping tool it came with, I was ready to go in no time! I stored all my debit, credit, ID, loyalty and gift cards. It was time for the test drive!


The Trial Run
The first place I decided to go was my local grocery store. I bought a few knick-knacks and turned my Coin on with a simple click of a button. It turned on instantly and read WF (Wells Fargo) to represent the card being used.  I swiped the card and it worked! I was pretty impressed. I had left my house with just my car keys and this simple card and I couldn’t believe it represented my full and bulky wallet.


Uh oh! It May be Too Good to be True
A problem came up when I decided to use my Coin to pay at a restaurant. As I tested how long it would stay on, it seemed to be a fair amount before it automatically shut down. The server stared at it a little funny but took it anyway. I had to remind her not to press the button and simply slide it as it was. But of course, human instinct does not simply let you ignore a button you are asked not to press. 

Image from PhotoBucket.

As our server fed her curiosity, she charged the wrong card. That’s when I realized I couldn’t really trust everyone with my Coin, as of now.


Let’s Backtrack
Coin smashed their funding goal of $50,000 in just under 40 minutes, which gives me immense hope for them. There are definitely a lot of people that love the idea, but maybe not so many people that fully understand it or own it, just yet.

I think it could be a while before it becomes a casual accessory that everyone has. Given the price ($100), digital divide and skepticism from baby boomers makes it hard for the Coin to become the next big thing. (My mom barely trusts her iPhone, I’m sure the Coin would scare her.)

As the founder and CEO Kanishk Parashar rightly states, “Coin is designed for the lifestyle of today but with the technology of tomorrow.”  


How likely do you think people are to jump on the Coin 2.0 bandwagon? As likely as someone will win the Powerball? Will the Powerball really stop at 1.4 billion? 3 billion? WILL IT EVER STOP? Let the Tek Team know what you think!

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