Coin 2.0 Adds NFC But There's A Catch

Would-be payments disrupter Coin has announced Coin 2.0, the second generation of its connected card, adding NFC but potentially pushing back deliveries for some still waiting on the first. As before, Coin 2.0 can register multiple credit, debit, and other cards, and has a built-in display to cycle between them while in the store. However, whereas swiping to pay through a magnetic reader was the only way to actually complete the transaction before, now contactless payments are supported.

Out of the box, though, not all cards will actually support the NFC feature. Coin 2.0 will ship in Early-Access-Mode for wireless payments, with the company saying that it'll work with financial institutions over the coming months to expand that support.

At the moment, it's unclear which cards will actually have NFC capabilities with Coin 2.0.

Until then, there's also the promise of a new magnetic stripe that should be more successful in readers at gas stations and other locations, along with the ability to give stored cards a nickname. That way, it should be easier to see which you're using to pay.

The card itself is "up to 8-percent" thinner than the old model, and the display is supposedly twice as fast.

If you've already received your first-generation Coin, there should be an option in the app to choose to upgrade to the Coin 2.0 card. Anybody waiting for their 1.0 preorder to arrive will automatically be upgraded to Coin 2.0.

Exactly when it will arrive may depend, however. New orders are told to expect shipping sometime within the six month window between Q4 this year and Q1 2016, while those still yet to get the first model may discover their delivery estimate has now been pushed back as the new hardware is readied.

If you're still tempted – and not opting for something phone-based, like Apple Pay, Samsung Pay, or Android Pay – Coin 2.0 is priced at $100.

SOURCE Coin