What, you don’t know what Coin is? You must live in a very comfortable cave. Coin took the payments world by storm last November, announcing that it was raising $50,000 on its site and not bothering with Kickstarter. It met its goal in just 47 minutes, thanks to a brilliant marketing campaign from founder Kanishk Parashar that involved implying a limited supply, lowering the price for early adopters, and winning the hearts and minds of fintech influencers. Coin incorporates up to eight payment cards in a single, sleek black card and accompanying mobile app. Users switch between payment methods by pressing buttons on the face of the card. Sound familiar? Everything about Coin is familiar, and that’s part of its genius. Other companies have push buttons on cards and other companies incorporate multiple payment sources on one device, and other companies have dongles that allow users to load card data onto a mobile device, but Coin has all three, and more besides. Its greatest innovation may be that it acclimates users to using a single device for all their payment needs. In this sense, it is the most successful of the transitional mobile payment methods, with another standout being LoopPay. [...]
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