COIN V2

IMG_2281Well COIN pushed an update to their app on iOS today. Part of the update was to add a feature to add a nickname to each credit card stored on the Coin device. Okay, to refresh your memory, Coin is a device that allows one to store up to six credit cards on the device. It has the same form factor as a typical credit or debit card. The deal is that you can reduce the thickness of your wallet from six credit cards to one.

The problem was that one had to remember the last four digits of each credit card so that one could select the one that you wanted to use. So for example, now you could assign a nickname like WF for a Wells Fargo card or BA for Bank of America. A feature that would be welcome and useful.

They also announced that would be a V2 version of the device. Current owners/users could upgrade for free. Well that’s nice. The V1 device seems to have some issues around acceptability at some merchants. ie. not everybody accepts it. That’s a big problem because it means that you have to have a real backup credit card in case the store can’t read the COIN.

The V2 COIN is also supposed to support NFC (Near Field Communication). This allows one just to wave the card on top of the POS terminal. This is the same feature that is used by ApplePay or GooglePay. If stores start supporting NFC, why would I need a card? I could just use my iPhone, Most stores aren’t anywhere close to accepting NFC,

Here’s the main problem. The V2 COIN won’t start shipping until Q1 2016. What they mean by that is the end of Q1 2016. Corporations often have a weird way of telling time. If I told my wife that I would be home by 9 pm and I walked in the door  at 9:55 she might be justifiably be upset. I said I would be home by 9. It’s still 9 o’clock. Time to duck. That’s seven months from now by my math.

Anyways, back to the update. I installed the update. I registered for the update. no problem. I am now aware of their method of keeping time. I managed to set one nickname. But I was unable to set another. At the same time my COIN seems frozen. No sync, Won’t turn on. I can’t prove that the update screwed up my COIN but it seems likely that it’s the culprit.

Time for another email to COIN support. They say to repeatedly push the on button until it unfreezes or let it sit for 24-48 hours. Sigh. My COIN is real close to being thrown in the back of the drawer with all of my other electronic gadgets that promised to change the world but didn’t.

If you’re thinking of buying one of these gadgets. Don’t.

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