Washington: A new product, called Coin Card, has been reportedly launched that would help lessen the pain of carrying multiple plastic cards that make the wallet bulky and also risky.
Coin Card is a connected credit/ debit card that can take on the identity of all swipe-able cards of the user such as gift, loyalty and membership cards.
According to Fox News, the card is expected to ship in summer 2014 and would cost 100 dollars and a card-swipe dongle will also be shipped with the device for smartphone connection in order to upload apps compatible with the app.
With the app, users can tap a button on Coin to toggle through a digital display of the cards stored and select the one to be used, the device will then take on the identity of that particular card for use.
The report said that the information stored on the device is protected by 128-bit encryption and if ever the Coin Card is lost, phone and the dongle can be used to add, manage or delete existing cards as it works on Bluetooth connectivity.
Each Coin has a battery that will last for two years and will not demagnetize if left near other cards or magnets, and like other cards it is shock and water-resistant.
However, there are a lot of privacy concerns that come with the card, as there is no proof of identity on the card itself about the original owner like in general cards making it vulnerable to theft.
