Update: 20th Dec 2016
Unfortunately Coin was bought and subsequently shutdown before even Coin 2.0 was released. It was a nice idea, but I suspect the market is too saturated with competing and incompatible payment methods at the moment. At least Apple Pay is being accepted in more places.
Recently I have been using the Coin credit card device https://onlycoin.com/. This credit card sized device can contain the details of many credit cards at once. There is a great video on their website showing how it works. When you go to buy something you simply push a button on the card to select the credit card details you want to swipe with. No more bulky wallet for multiple credit cards!
It uses Bluetooth to communicate with your iPhone or Android to unlock – so even if you left your Coin behind accidentally it will be locked out for anyone else to use. It also records the last location it was used at so you can go back and retrieve it if you left it.
There is a tap tap code you can use to unlock it without your phone, but I haven’t found that to be very easy yet. Out of all the places I have tried to use it only one place was not able to read the card, so I always card 1 back up card just in case.
The fun part is when you hand it to someone to swipe and they are looking at it and always ask me what it is – and then what a cool idea it is. I concur! The Coin 2.0 will be out soon which will work with chip enabled cards I will be interested to see how they implement this for multiple cards.
When you purchase the Coin it comes with a card swipe you plug into the headphone socket on your phone. Like how the Square payment method works. Using this you can swipe each card and save it to the Coin app and take a photo of the card. These details are then synced across Bluetooth to your Coin.
I will be very happy when I receive my Coin 2.0 for one major feature – the ability to give each card a nickname! The Coin screen just shows the card type (VISA, DISC) and the last 4 digits of the card number – so much easier to give each card a nickname.
Overall I am very happy with Coin and have found my wallet is nice and slim now – just got my Coin, debit card and driver license. Until Apply Pay becomes widespread this is a great alternative that works the majority of the time.