Coin - [No referral links] Single Card To Replace All the Plastic in Your Wallet
Nov 15, 2013, 1:48 pm
#46
Join Date: Jan 2013
Programs: SPG, Hyatt, AA, united, delta, southwest, us airways, Hilton
Posts: 16
I think this is a great idea ......some years down the road. My concern is since your able to switch between cards by pressing a button on the coin card, what happens if the waiter or merchant accidentally presses that button and switches between cards while he's swiping.
Nov 15, 2013, 2:36 pm
#47
Join Date: Nov 2012
Posts: 3,537
I think this is a great idea ......some years down the road. My concern is since your able to switch between cards by pressing a button on the coin card, what happens if the waiter or merchant accidentally presses that button and switches between cards while he's swiping.
The Google Wallet card had NONE of these issues since selection was made on the phone and it was a real card with a real network logo, etc which charged Google, who, in turn, charged your real account.
Unfortunately, it was also never more than rumour.
Nov 15, 2013, 2:37 pm
#48
Join Date: Feb 2011
Programs: AA, UA, Marriott Gold
Posts: 349
The "time to deactivate" is a configurable option, from my understanding. If you are planning to leave your phone at home, you could open the app and set it to a length of time greater than you expect to be away.
Nov 15, 2013, 9:33 pm
#49
Join Date: Dec 2007
Location: SYR
Programs: US/AA-Platinum, Hilton-Diamond, Marriott-Gold, AVIS-Presidents Club, National-Executive Elite
Posts: 2,755
1. While few details have been announced, it sounds as if this merely copies magnetic stripes with a card reader dongle. EMV (chip) cards have a service code flag that says “use IC where feasible” to prevent the magnetic stripe from being used in a chip-enabled terminal. This service code is essential to maintain the security of EMV - if you could use the stripe in an EMV-enabled point of sale, EMV would offer no security benefit whatsoever. EMV cards are beginning to be widely deployed in the United States now (Coin’s target market), and while few merchant terminals are yet enabled for them, more will be as we approach an October 2015 liability shift date. Put simply, Coin won’t work with the cards we’ll all be using in a couple years - and it doesn’t even come out until next summer! Five of my eight credit cards are already EMV, and the rest of the world has already long switched.
Bold emphasis mine.
Nov 16, 2013, 1:15 am
#52
Join Date: Nov 2012
Posts: 3,537
If they're following network acceptance guidelines, they won't ask for ID. They also won't accept this for obvious reasons!
Nov 16, 2013, 12:58 pm
#53
Join Date: Dec 2004
Location: London
Posts: 6,265
(Although, IMHO a very stupid one)
Figure its worth a try, could be cool, could suck, but its worth checking out
Nov 16, 2013, 10:25 pm
#55
Join Date: Oct 2013
Posts: 147
I think if I am living in the US for quite awhile, I might as well get twhile it's still cheaper now than later. But of course, for travelling internationally, which I do once a while, I still bring my EMV card.
Last edited by mia; Nov 17, 2013 at 12:29 pm Reason: Remove referral link
Nov 17, 2013, 9:42 pm
#56
FlyerTalk Evangelist
Join Date: Oct 2011
Location: Anywhere I need to be.
Programs: OW Emerald, *A Gold, NEXUS, GE, ABTC/APEC, South Korea SES, eIACS, PP, Hyatt Diamond
Posts: 16,046
HK (as one example) largely still accepts swipe cards (though I use Octopus/EPS on majority of purchases. I doubt that they would largely accept this there.)
Last edited by AA_EXP09; Nov 17, 2013 at 9:50 pm
Nov 17, 2013, 9:48 pm
#57
Join Date: Nov 2012
Posts: 3,537
What do you do at the few Walmarts or at some small businesses that have turned EMV on when you swipe your Coin and the terminal says "insert chip"?
Exactly.
Nov 18, 2013, 6:53 am
#58
Join Date: Feb 2011
Programs: AA, UA, Marriott Gold
Posts: 349
Even in the US, what do you do when an intelligent merchant says "NO FREAKING WAY" to a card missing the network logo, security hologram, and other features they've been trained to look for?
What do you do at the few Walmarts or at some small businesses that have turned EMV on when you swipe your Coin and the terminal says "insert chip"?
Exactly.
What do you do at the few Walmarts or at some small businesses that have turned EMV on when you swipe your Coin and the terminal says "insert chip"?
Exactly.
While eating at a restaurant may pose a problem for merchant unfamiliar with it, most retail stores checkout procedure never has the card leaving the purchasers hand. The clerk at the register never gets a good enough look at what I am swiping to know if it has a logo/hologram on the back, a signature box, or anything. I simply swipe my own card, select credit/debit, and continue.
I have also never personally seen anywhere, especially a Walmart, that requires EMV cards in the US. More to the point, I only even have one card with a chip.
I'm sure that, at least for a while, when using this product I will still card 1 physical card with me. Since electronics fail, and it is a new product, I will definitely have a backup plan in case of an emergency. That is just good planning. It will still be 7 cards less in my wallet, and a good step towards getting away from my George Costanza wallet.
Nov 18, 2013, 9:41 am
#59
Join Date: Nov 2012
Posts: 3,537
You don't understand what I'm saying. We're going to be rapidly moving to EMV cards. If you clone the magnetic stripe of an EMV card you CANNOT use it in an EMV-enabled terminal because the service code on the card says "use IC where feasible"
I'm not saying Walmart won't accept a card without a chip. I'm saying that, very soon (and some stores already) they won't allow you to use the stripe of a card with a chip. Granted, you can bypass this by jamming a card in the chip slot a few times (making it think the chip is broken), but this will be more hassle, will eventually lead to declines by your bank, and will only add to the "what on earth are they doing - NO WAY" to any competent cashier allowing the use of Coin.
Cloning the stripe of an EMV card doesn't magically make it appear to be a card without EMV. That's the point of EMV, if it were that easy, EMV wouldn't help anything.
I'm not saying Walmart won't accept a card without a chip. I'm saying that, very soon (and some stores already) they won't allow you to use the stripe of a card with a chip. Granted, you can bypass this by jamming a card in the chip slot a few times (making it think the chip is broken), but this will be more hassle, will eventually lead to declines by your bank, and will only add to the "what on earth are they doing - NO WAY" to any competent cashier allowing the use of Coin.
Cloning the stripe of an EMV card doesn't magically make it appear to be a card without EMV. That's the point of EMV, if it were that easy, EMV wouldn't help anything.
Nov 18, 2013, 10:40 am
#60
Join Date: Nov 2013
Location: DCA/IAD
Programs: HH Gold-IHG Plat
Posts: 390
