Who'da thunk there'd come a day when you could use one Coin to pay for anything?
Available now for pre-order, Coin looks and acts like any of the cards in your wallet, but aims to condense that pile of plastic into one device.
Coin channels virtual wallets like Google Wallet or Isis Mobile Wallet, but still offers users a physical card, or Coin, which houses information on all your cards.
To get started, download the Coin iOS or Android apps and plug the included dongle into your smartphone. Then empty your billfold of debit, credit, gift, loyalty, and membership cards, and swipe them using the dongle. Take a photo of the cards you swipe to help you identify them within the app, and put them aside. Take only your Coin when you visit your favorite restaurants, gas stations, or the mall.
A display on the Coin will tell you which card the Coin is about the charge. Tap it to cycle through all the cards in your virtual wallet. The device holds up to eight cards at a time, while the mobile app can store an unlimited number.
On the security front, Coin uses low-power Bluetooth to communicate with your phone, which will send you a message if it gets too far away from your Coin. A simple "Did you leave your Coin behind?" notification may help avoid stressful situations.
Designed to last two years with normal usage and no recharging, Coin is expected to launch next summer. Once the battery dies, customers will need to replace the entire device, at a cost of $100. Early adopters can sign up to get their first Coin for $50.
While the device will work overseas, the company recommends a backup card for traveling.
For more details, check out Coin's FAQ page online, and check out PCMag Live in the video below, which discusses Coin and the launch of Isis.