Coin, a Y Combinator and K9 Ventures-backed startup company, has introduced a new Coin card that can store all other cards including credit, debit, loyalty and gift cards.
The brainchild of Kanishk Parashar, Coin card features a small screen that displays user name, expiration dates, card security codes and all the other data that a merchant requires to authenticate a transaction.
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With the size of standard credit card, the Coin has an interface that shows the user the stored cards one by one.
The device can be connected with iOS and Android smartphones through Bluetooth. It also comes with an app that can be used to load new cards and manage existing cards in Coin.
Parashar said the Coin is shock and water resistant, and its strip will not demagnetise in the presence of magnets, other credit cards or electronics.
If the Coin loses radio contact with phone, it automatically locks up and sends an alert message to the user. It can be unlocked only with a secret code.
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By GlobalDataAccording to Parashar, the Coin will retail for $100 and will be available by the summer of 2014.
