I think this highlights how insecure cards are that just rely on magnetic strip information rather than something like EMV (chip & pin). It should not be possib

I think this highlights how insecure cards are that just rely on magnetic strip information rather than something like EMV (chip & pin). It should not be possible, or at least extremely difficult, to clone a card. I'm from the UK and EMV (Called Chip & PIN) has been around for years now. No-one issues non-EMV cards anymore, except perhaps for cards designed exclusively for use in ATMs. Something like Coin would not be possible and, frankly, I'm happy this is the case. While having to carry multiple cards around is not an optimal solution I'd much prefer this over the ability for my cards to be trivially cloned. Aside from the security issues how would this work in relation to fraud with your card issuer? I'm not sure if it is different in the US but if you are the victim of fraud and you were not seriously negligent (i.e stored your PIN in the same wallet as your card) then the issuing bank will refund any money fraudulently taken/spent. Assuming something similar operates in the US, would using this service give the issuing banks a excuse to hold you responsible for fraud? I'd also wonder if you were breaking any agreements you have with your bank in relation to your use of the cards they issue you with.