Back in 2013, Coin unveiled a device that enabled users to consolidate their wallet into a single card. But the launch was, shall we say, difficult, which meant backers of the crowdfunded device had to wait months—or longer—until getting their hands on the device. We eventually got ours, and found it to be useful (when it worked), but not everyone was lucky enough to participate in the smart card future.
Now Coin is back with a second offering, unleashing version 2.0 on Wednesday as it looks to stave off competitors such as Stratos and Plastc. The new card includes an NFC chip for contactless payments, refined sensors, a thinner profile and even the ability to create nicknames for cards stored on Coin. Additionally, it will come with an improved electronic stripe; version 1.0 has been bogged down by swiping issues, apparently caused by fluctuations in temperature and humidity.
The good news is that original backers will get Coin 2.0 for free. The bad news is that the upgraded card, which begins shipping today, might not get shipped out to every backer until Q1 of next year.
Coin says the NFC chip is currently in “early access mode,” which means partners will need to enable Europay, MasterCard and Visa (EMV) for the card to be accepted. EMV is currently the standard that services like Apple Pay and Android Pay (launching soon) take advantage of for contactless payments. If there’s no NFC, you can always just swipe the card like you normally would.
You can purchase Coin 2.0 for $99 from the company’s website; new pre-orders don’t ship until Q1 2016.