Coin is an interesting product idea with an old name. It makes people’s life easier by batching the information of several credit and debit cards into one card. Unlike all Square products, which are exclusive to the United States, Canada and Japan, Coin can be ordered from any country in the world.
Coin keeps the magnetic information for each card in its memory, and rewrites its own magnetic strip to imitate whichever service you choose. Swiping your cards through a dongle attached to your smartphone imports the original card data. It also contains a low-energy Bluetooth chip. Once paired, your smartphone will remind you if you leave your Coin card behind.
Cards relying on a chip are currently not supported. If you try using it in London, you may be out of luck.
The makers of Coin came up with a unique product idea and made it really easy to use. Establishing a new product that introduces a new user flow, it helps to name it with seomething people can easily remember and associate with its functionality. A common word like “Coin” is a clever but daring move.
While removing one issue, Coin adds a new one: the hundreds of times you need to explain yourself to the hotel concierge, the restaurant manager, the gas station clerk, the shop owner, that yes, this is indeed a valid card, convincing them to give it a try.