Coin Launches One Card to Replace Every Other Card Cluttering Your Wallet or Purse
Y Combinator and K9 Ventures backed startup aims to raise $50,000 in a crowdfunding campaign to manufacture first batch of the only card you’ll need
SAN FRANCISCO– (November 14, 2013)— We live in a world of overstuffed wallets and purses. With the average person owning about 9.5 credit cards, not to mention loyalty, membership, and debit cards, the clutter can become a real issue.
Today, Coin, a new startup out of Y Combinator, is launching a product to solve that. Coin has created a Bluetooth Low Energy (BLE) connected card (approximately the size of a single credit card) that can store all your swipe-able cards and be used to pay everywhere cards are accepted, all in real time.
Starting today Coin is launching its crowdfunding campaign to produce its first batch of cards with the goal of raising $50,000. Anyone interested in simplifying their life with Coin can watch a video on how it works and become one of the first to get one by pre-ordering at https://onlycoin.com.
Coin is a completely unique and secure device that fits seamlessly into your wallet or purse. Coin is powered by a 128-bit encryption for all storage and communication with its easy-to-use consumer app. To start, you receive your Coin card and a card-swipe dongle that connects to your smartphone or tablet and allows you to upload all your cards onto the mobile app, which then automatically stores them onto your personal Coin card. Once you have set up your Coin, you no longer need the accompanied app or your iOS or Android device to be near for Coin to function, unless you want to manage, add or delete existing cards.
Check out a video on how Coin works here: http://www.youtube.com/watch?v=w9Sx34swEG0
Paying with a Coin is simple: you simply toggle through your stored cards on the digital display to select the one you want to use and swipe at any card machine. Coin is accepted everywhere credit, debit, gift cards and loyalty cards are accepted. If you leave your Coin behind, it will alert you via the accompanied mobile app on your mobile phone, or if lost, Coin will disable itself.
Coin’s Features Include:
- Storage of all of your credit cards, debit cards, gift cards and membership cards onto one Coin card, with the ability to manage, add or delete any of your cards using the accompanying mobile app.
- Pay using a Coin anywhere that cards are accepted - restaurants, gas stations, grocery stores, etc.
- Coin is completely secure. If you get too far away from your Coin or leave it behind somewhere, the mobile app will alert you and the Coin will disable itself if it’s lost - ensuring no one can use the cards you store on it.
- There is no need to ever recharge the battery – each Coin lasts for 2 years, is shock and water-resistant and will not demagnetize if left near other cards or magnets.
- Easy-to-use digital screen tells you which card you are using; just tap the button on Coin to toggle through your list of cards.
“Coin is designed for the lifestyle of today but with the technology of tomorrow,” said founder and CEO Kanishk Parashar.
Coin officially launches on November 14, 2013, using crowdfunding to begin production. The device will retail for $100 but crowdfunding backers can enjoy discount pricing starting at $50 (limited availability). Special discounts include $5 off for every friend you refer. Coin is expected to ship its first batch in Summer 2014.
Find out more and help fund Coin here: https://onlycoin.com
Coin is a connected device that allows you to combine all your cards into one and lets you use them everywhere they are accepted. Coin is in the familiar form of a plastic card, but equipped with a digital display, 128-bit encryption, Bluetooth Low Energy, and a battery that last years. Not to mention, once configured using our mobile app, Coin operates autonomously on a day-to-day basis. Based out of San Francisco, CA, Coin’s purpose is to create a product that simplifies and improves your life.
- Contact Information
- Lucy Donahue
- PR Coordinator
- VSC/wareness.io for Coin
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