Coin, The Electronic Credit Card, Reaches Its Pre-Order Goal In 40 Minutes

TechCrunch

We are, I believe, in an interstitial zone when it comes to payments. Credit cards are still king – just ask Square – and NFC is just a dream in most countries. That’s why Coin is so interesting. It’s a credit-card-sized device that holds other credit cards, allowing you to swap from card to card and even store gift cards inside its ultra-thin innards.

The company planned a pre-order campaign that would top out at $50,000. They blew past that goal in 40 minutes today, a testament to the desire for folks to leave their plastic at home.

The card itself is as thin as a regular credit card. To use the card you select a payment type with the button and just swipe. The Coin card “mimics” your read credit or gift card. The technology is tightly packed inside the card’s plastic case. It uses low-power Bluetooth to connect to…

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