Lifestyle

Highly anticipated Virtual Wallet Coin finally launches; limited features for users outside US

Remember that minimalist all-in-one virtual wallet, Coin, that aims to be the king of all cards? The product’s video pitch, which first made its rounds on Kickstarter in late November 2013 has been watched over a whopping 9 million times since it first debuted.

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Several months in, the working prototype is finally out.

Its CEO and founder Kanishk Parasharfinally unveiled and demonstrated a working prototype at TechCrunch’s technology conference, Disrupt NY 2014 on 5th May 2014.

Demo of Coin

So, what does this all mean for Singaporeans, you may ask?

Singapore is admittedly heading towards an increasingly cashless society. It is undeniably easier to get around without any cash at hand. In fact, it is now a norm to expect to be able to pay for your food or your cab ride with a number of card choices. Any vendor that does not accept this form of payment is viewed as not fitting in and as a result considerably inconveniences its patrons.

As we move towards a society that places an increasingly higher value on plastics, card memberships and loyalty points, it seems an inevitable outcome that our wallets get bulkier.  The simplicity and convenience that Coin brings might just be the solution to the problem of unnecessarily fat wallets. Retailing at only USD50 for a short time before it hits the markets at twice the price, tech lovers and early adopters are definitely going to want to get their hands on this minimalistic card before it hits mainstream.

Sadly however, for now, according to the FAQs users outside of the US can and should probably only use it for gift, loyalty and membership cards.

A slight caveat to note is that there are still some hiccups that remain to be ironed out. Some doubts are being raised too about its functionality.

It is still in its early stages of iteration and future generations will definitely be better but in the race towards a more simplified, world,  it’s definitely worth keeping tabs on.

Now, when it does hit the stores, would you try Coin, the one card to rule them all?

Also read: Japan top online shopping site Rakuten officially launches in Singapore

Featured Image Credit: gretelny

 

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