Loyalty program members will soon be able to replace their multiple credit cards with one piece of plastic that can hold their credit card, debit card, gift card, loyalty card and membership card information. The Coin allows members to add their credit card information to the Coin card by swiping the card using their smartphone, a mobile app and a provided card reader designed for swiping. The Coin card can be used anywhere credit cards are accepted and can hold up to eight cards at a time while the rest of your cards can be stored on the Coin mobile app. When paying with Coin, you can then select the card you wish to use for that transaction from those stored in the Coin card. The Coin card communicates with your smartphone via a Bluetooth connection so you can change which eight cards you prefer to store on your Coin at any time.
Coin works with Apple and Android devices and costs $100 ($50 for early adopters) and will be available to customers in the summer of 2014. Unlike the Wallaby Card, which similarly stores multiple cards on a single card, Coin will not automatically choose the best card for your particular transaction. And since Coin is always linked to your smartphone, if Coin loses contact with your phone, it will automatically deactivate according to a set period of time that you choose. Once deactivated, you can unlock it if it was temporarily misplaced or your phone ran out of power.