Will Plastc Card and Coin Card become the future?

[Anonymous]

Hello Everyone, 

Recently I'm just very interested in the Plastc Card and Coin Card. I think Coin is the first company (Maybe I'm wrong) that coming up the idea that put all the cards data into one card, so you only need to bring one Coin Card. But since the Coin can only store 8 cards and without the security chip and delayed all the time, this gives its competitor a chance. 

Plastc card can store 20 cards data and has all features like NFC, RFID and security chip on it. Plastc I think will come this summer and the Price is $155. 

Since the Apple Pay becomes popular, will this kind of cards have market?

By the way, I never use the Apple Pay since my credit card has be stolen 3 times and maybe they stole my card by using my online purchasing account or Macbook "Remember my card". I probably never let apple product remember my card...... 

This way, I might try the Plastc. What is your opinion? 

Have a great weekend

[alkaline]

They might be popular right now but when EMV is in use everywhere and everyone has a chip card what I think will happen based on what I read is when you swipe your coin card the terminal will know that your card has a chip and tell you to insert your card into the chip slot.... So you'll have to use your real card in the end.

[kdm31091]

The problem is, and it's kind of the reason virtual payments haven't taken over instantly, is that there is nothing really "broken" about the system of sliding your card other than security, which is fixed with EMV.

There is no huge time saving convenience (IMO) to using Apple Pay etc vs just inserting a card. It's a minor step forward yes, but IMO not dramatic enough to make cards disappear anytime soon. People have been used to the way the system is (as in carrying actual cards) for years, and years, and years. It won't just go away overnight. You also have to consider older folks who won't use Apple Pay or "multiple cards in one" technologies like you are talking about. They simply won't.

Point is I see the systems all coexisting for a long time before anything is eliminated entirely. Just like email has not 100% replaced snail mail, ebooks have not 100% replaced books, etc, it will take time for change to occur.

[pipeguy]

Interesting..... all those pretty colors, all that graphic design, all that marketing to feed alter-egos with "Black Cards" and AmEx on anything cards will all go away when electronic wallets are used. Of course the reward structure and "airport" benefits will mostly remain in place, but I suspect electronic cards (everything loaded onto one physical device) if they become popular will take a lot of the "ego-play-marketing" out of the market.  In any case it'll be fun to watch from my point of view. 

[Anonymous]

Personal I don't see this technology taking over or even becoming mainstream for a long time if ever. As others have said paying with a card is no more difficult. What difference does it make if I have to pull out a phone, electronic card, or regular plastic out of my pocket. I can see the convenience if you have 20 some cards, but most consumers do not. For someone like me who only needs 3 or 4 cards it has no advantage.
Have you ever been stuck behind someone buying groceries with a check. Credit cards are not going away for a long time, imo.

[Calistal]

I will say that while I don't think that this particular technology will take over the market - as it seems more of a niche product for a relatively small market - the technology industry tends to take ideas like this and improve on them over time.  So what we're seeing is an introduction to a new use of tech with a bit of new tech thrown in that very well may lead to a larger revolution of use later on down the line.  Nothing is guaranteed but it has certainly happened before.  I'll give it a few years, see if it hangs around and try it when the tech gets upgraded and better after being "beta tested" by all the first/early adopters.

[kdm31091]

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@Anonymous wrote:
Personal I don't see this technology taking over or even becoming mainstream for a long time if ever. As others have said paying with a card is no more difficult. What difference does it make if I have to pull out a phone, electronic card, or regular plastic out of my pocket. I can see the convenience if you have 20 some cards, but most consumers do not. For someone like me who only needs 3 or 4 cards it has no advantage.
Have you ever been stuck behind someone buying groceries with a check. Credit cards are not going away for a long time, imo.

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Exactly. I see no compelling reason to use Apple Pay/Google Wallet etc. It's just not easier enough. There's nothing wrong with just taking out my card.

[Anonymous]

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@kdm31091 wrote:

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@Anonymous wrote:
Personal I don't see this technology taking over or even becoming mainstream for a long time if ever. As others have said paying with a card is no more difficult. What difference does it make if I have to pull out a phone, electronic card, or regular plastic out of my pocket. I can see the convenience if you have 20 some cards, but most consumers do not. For someone like me who only needs 3 or 4 cards it has no advantage.
Have you ever been stuck behind someone buying groceries with a check. Credit cards are not going away for a long time, imo.

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Exactly. I see no compelling reason to use Apple Pay/Google Wallet etc. It's just not easier enough. There's nothing wrong with just taking out my card.

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When I saw the Plastc Card, I was thinking will that possible in the future that Bank won't mail you any physical card, they will give you an option to directly download the card into Plastc Card and you can use that right away instead of waiting for the card. 

[Anonymous]

I will use Apple Pay. I think this will actually be really popular once it's streamlined in OCT I think right before christmas shopping. Places where fast transactions make the lines go fast line retail stores and sbux i see this being really popular. But, my views on brick and mortar shopping venues for merch are that they are numbered.