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Super cool, but my guess is that there's a very small time window for it to succeed before the phone completely subsumes all card functionality. After all, the
by gojomo 13y ago
Super cool, but my guess is that there's a very small time window for it to succeed before the phone completely subsumes all card functionality. After all, the phone already scans the old card and sends the details to the 'CoinCard' (and monitors card-custody) via Bluetooth-LE.
It won't be long before most swipe terminals are themselves augmented with wireless transceivers, making the "CoinCard" a redundant middleman-device. That is, your phone could just send archived magstripe details, after your onscreen-app confirmation of payment-intent, to the retailer's terminal.
Coin's real strategy may be for that world - the hardware will fall away like a first-stage-rocket at some point... even faster, say, than Netflix moved from DVDs-through-mail to pure-network-delivery.
- apayan 13y agoYou can already do this with Google Wallet on Android. Enter your card into the Wallet app, then swipe your phone over any PayPass terminal and it will process the transaction. At least half the retailers I visit already have PayPass terminals (in Los Angeles).