Thursday, November 21, 2013

Thin Your Wallet by Only Using Coin...

Coin product.jpg
A big thanks to my buddy Bill for tipping me off on this one.  Not sure how I  missed it, but I'm sure glad he didn't.
The title of this post seems a little odd, I'm sure.  I mean, how could you make your wallet smaller by using coins?  Well the secret is, I didn't say "coins", I said "Coin"… and therein lies the difference.
Coin (pictured above) is a combination of a small credit card sized  piece of hardware and a smartphone app that work together to reduce the number of credit cards in your wallet.  I know that many of us are walking around with several credit cards in our wallets.  While one card is small and light… when you combine them together they quickly add up into a bulging stack that can overwhelm whatever you are carrying them in.  Personally I've taken to, on the weekends, using a money clip with just the bare bones cards that I need to survive.  Of course that only works on the weekends, when I'm not on the road or doing other things that are business related and need a business credit card.  There are even times on the weekend where I end up needing a card that is not with me, but instead rests at home in my wallet.
This is the problem that Coin solves.  The device allows you to put into from multiple credit cards onto one device.  That means for the same basic footprint, you can carry several different credit cards.
The info is put on the device via a smartphone app and a credit card swiper that attaches to the phone.  You swipe the card, identify it in the app, and then the info is transferred to the Coin.  The Coin continues to communicate to your phone via a low power Bluetooth signal so that if you should forget and walk off leaving your Coin behind, your phone will alert you.  Also, if you should miss the alert, the user can determine a "time out" that will shut the Coin down and not allow it to be used.  Sweet, huh?
The device is available for pre-order for $55 and is due to ship in the summer of 2014.  Head on over to the website for all the pertinent details.  I think this is a great idea.  It will definitely save some wallet space!

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