Frequently Asked Questions

Below are answers to questions we hear often. Please check out our Support Center for more details about how Coin works.

 

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  •  General (19)

    Q. What is Coin?
    A. Coin is a connected device that can hold and behave like the cards you already carry. Coin works with your debit cards, credit cards, gift cards, loyalty cards and membership cards. Instead of carrying several cards you carry one Coin. Multiple accounts and information all in one place.
    Q. How do I get my cards onto a Coin?
    A. The process of adding card information to the mobile app is very simple. You start by photographing and then swiping your cards through a small device we provide you with. Additionally, we will send a payment to your account associated with the card to verify your ownership of the account. Our mobile app will allow you to add, manage, and sync the cards via Bluetooth onto your Coin.
    Q. How much does a Coin cost?
    A. Coin is priced at $100 plus applicable taxes and shipping.
    Q. How do I get my Coin?
    A. You can pre-order a Coin via our website.
    Q. What card details does the Coin display?
    A. The Coin's screen will display the credit/debit card brand (American Express, Discover, MasterCard, and Visa) if applicable, last 4 digits of the card number and expiration date.
    Q. Where can I use Coin?
    A. You can use a Coin everywhere magnetic stripe cards are accepted including dip-style card readers and ATMs. Use a Coin just like you use your cards now at your favorite locations such as coffee shops, gas stations, restaurants, the mall, or parking meters.
    Q. Will my Coin work outside the U.S.?
    A. Coin works outside of the United States in card readers that accept magnetic stripe cards. Be sure to call your credit card issuer before international travel to let them know you'll be using your card overseas.
    Q. Why are you charging me immediately for my pre-order?
    A. Creating and manufacturing new devices is expensive. As a young company, being able to use the revenue from your pre-order to pay for things as we build them helps us reduce risk and helps ensure that we deliver the best possible product and customer service to you.
    Q. Do you ship internationally?
    A. Currently we only ship to U.S. addresses. Coin requires identity information that is based on U.S. protocols so international customers and non-U.S. citizens are not able to use Coin at this time. We plan to expand availability to international customers soon.
    Q. What is your policy on refunds?
    A. If you decide to cancel your pre-order, we will refund you up to the point that we inscribe your name on your Coin. Once we’ve inscribed your name on a Coin, we cannot re-sell the device to someone else.
    Q. What kind of warranty do you provide?
    A. For Coin Beta devices, please see our Terms of Service. For the first generation Coin we will provide a limited warranty. If the device is defective we will replace it. If you damage it or decide that you don’t want it after we’ve shipped it to you, we will not be able to replace the device or offer a refund. Once we’ve inscribed your name on a Coin, we cannot re-sell the device to someone else.
     Q. Will Coin be accepted by merchants?
    A. The Coin screen will display a card brand indicator (American Express, Discover, MasterCard, and Visa), last 4 digits of your card number, and the card expiration date. The back of the Coin will have your name imprinted beside the tamper-evident signature panel. Pictures of the front and back of the card will be stored in the Coin mobile app. All of this information combined with your ID should clearly establish that you own a card.
    Q. What about Apple Pay?
    A. Coin works with a variety of iOS and Android phones including the iPhone 6 and iPhone 6 Plus. Coin aims to provide ubiquity in paying anywhere, not just at specific NFC-enabled locations supported by Apple Pay and iOS. This includes places such as gas stations, restaurants, and your favorite local store.
    Q. Will Coin affect my card’s loyalty or rewards program?
    A. No, you will accumulate points or rewards exactly the same way as with your plastic card.
    Q. Why do I have to buy a new Coin when my battery runs out?
    A. Coin is the size of a typical credit card and at this time we were not able to fit a replaceable battery nor recharging components into this form factor. Coin is an electronic device, not a plastic card. We must charge for each device to cover the costs of research and development, manufacturing, and support.
    Q. How do I get help or support?
    A. You can contact us via our Support Center.
    Q. Are you hiring?
    A. Indeed we are. Please see our jobs page for a list of roles and details on how to apply.
    Q. How do I get in touch about potential partnerships?
    A. Please leave your contact information at our Partnerships page.
    Q. How can I be notified about new features?
    A. Please follow Coin on Twitter (@coin) or like us on Facebook (/onlycoin) for updates on new features.
  •  Form (3)

    Q. Is a Coin really the same size as a typical credit card?
    A. Yes, really. The dimensions of a Coin are roughly 80.5 mm x 54 mm x 0.84 mm or 3.125" x 2.125" x 0.033". It is made to the exact specifications of a payment card so it can fit in any swipe or dip reader.
    Q. Do Coins only come in one color?
    A. Yes, Coin and Coin Beta only come in the color Midnight.
    Q. What material is a Coin made of?
    A. The skin of a Coin is made of plastic that is similar to that of a typical credit card.
  •  Function (10)

    Q. How many cards can a Coin hold?
    A. The Coin mobile app can store an unlimited number of cards, however, a Coin can hold up to 8 cards at a time.
    Q. What kinds of cards can I store in my Coin?
    A. Any debit cards, credit cards, gift cards, loyalty cards and membership cards which have a magnetic stripe.
    Q. What mobile platforms will Coin support?
    A. Coin mobile apps will be available for iOS and Android. Please see our compatibility sections below for details on specific devices that are supported. We'll keep track of demand for Windows phone and BlackBerry and consider support for those platforms in the future.
    Q. Can you pair a Coin to multiple mobile devices? For example, an iPhone and an iPad?
    A. You can only pair your Coin with a single device.
    Q. Do you need an Internet connection to use Coin?
    A. Coin requires an Internet connection to add and sync cards. An Internet connection is not required to use Coin out in the world.
    Q. Can I use my Coin for online payments?
    A. Coin is designed to allow you to use your cards out in the world. When you are making a purchase online, the Coin mobile app can be used to reference your card details. The Coin itself, however, cannot be used directly for online payments.
    Q. Can I use a Coin in an ATM?
    A. Yes, a Coin can be used in an ATM.
    Q. Can a Coin store my driver’s license or other forms of identification?
    A. Bottom line is that you should not rely on your Coin as a form of ID the next time you’re in line at the airport or at the club. A Coin can store an ID with a magnetic stripe, however, this will likely not suffice for you to use it out in the world. For example, a Coin cannot show your picture which is usually required with an ID.
    Q. Do I need my phone with me to use Coin? How close does my Coin need to be to my phone to use it?
    A. No. Coin is a standalone device which can store up to 8 cards. However, you will need your mobile device if you want to swap out those cards with additional cards stored on your Coin app.
    Q. Can I turn the Coin's Bluetooth radio on and off?
    A. No, Coin manages this for you.
  •  Security (16)

    Q. How secure is Coin?
    A. Maintaining the integrity of your Coin’s data is critical to your peace of mind. That’s why our servers, mobile apps and the Coin itself use 128-bit or 256-bit encryption for all storage and communication (http and bluetooth). Additionally Coin and the app has built in security features such as the Tap Code, preventing unauthorized use.
    Q. Does Coin support chip & pin (EMV)?
    A. Coin is currently designed for the U.S. market and does not support chip & pin (EMV). However, we are working hard to adopt new technologies like EMV into future products.
    Q. What is "Chip-and-Signature"?
    A. To help ease the transition to Chip-and-Pin, a majority of card issuers are employing a hybrid technology referred to as “Chip-and-Signature.” It means newly issued cards will utilize EMV’s chip as well as magnetic stripe to allow cardholders the traditional option to sign for transactions until the new EMV PIN behavior is adopted.
    Q. When will Coin adopt EMV?
    A. Coin has been designed to offer convenience by holding and behaving like all of your cards. Today it’s built for magnetic stripe cards, but as technology evolves, so will Coin. We pride ourselves on being a company on the cutting edge of technology and we’ll be working hard to adopt additional technologies like EMV into future products.
    Q. When I get an EMV card, will it work with my Coin?
    A. EMV card compatibility depends on the point of sales (POS) system requirements. If the POS requires that you insert a card with a chip instead of swiping, then Coin will not work. If the POS only requires a swipe then Coin will work.
    Q. Is my Coin going to work after the liability shift date on October 2015?
    A. Yes! Because of the acceptance of Chip-and-Signature during the US' EMV transition period, Coin will continue to work.
    Q. Have you tested Coin in EMV countries?
    A. Our primary focus is testing within the U.S., which is dominated by magnetic stripe and slowly transitioning to Chip-and-Signature. While we currently have no formal Beta program set-up abroad, we’ve seen success in preliminary international testing completed with Coin.
    Q. What if I lose my Coin or someone steals it?
    A. If your Coin is lost or stolen, it has security features that protect it from unauthorized use. With the security feature enabled Coin will reset, removing all card data after 3 failed Tap Code attempts. Tap Code is a security feature that you set up and use for access to both your Coin App and device. Although the security features are built to prevent unauthorized use, it is always best practice to cancel your payment card accounts in the event of losing your Coin. Our support team is available to guide you through this process.
    Q. What if both my phone and my Coin are lost or stolen?
    A. The fastest way to prevent problems in this scenario is to leverage the phone’s security features. Specifically using 'remote wipe' features to make your phone’s data inaccessible will help ensure that your Coin cannot be used as quickly as possible. We also strongly encourage iOS users to enable a passcode and turn on the 'Erase all data on this iPhone after 10 failed attempts' feature. If someone is able to get past the lock screen on your phone (or you don’t have it enabled), they will not be able to access card details stored on the phone, change settings, nor sync cards to your Coin via the Coin mobile app without signing in with your Coin account.
    Q. Can I lock my Coin?
    A. With Security turned on, each time you use Coin you will enter your Tap Code on the device in order for it to activate.
    Q. What if my phone runs out of power or is in airplane mode? Will my Coin be useable?
    A. Your Coin can act as a standalone device and can be used independent of your phone. Think of the phone as a companion to your Coin that updates it with information.
    Q. Does Coin satisfy PCI DSS standards for storing and transmitting card data?
    A. Coin is in the process of earning a PCI DSS certification.
    Q. Do you store card details on your servers?
    A. When you purchase a Coin, your payment details are stored on PCI-compliant infrastructure. When you use Coin, we will only store non-sensitive card details on our servers.
    Q. Does Coin have a PCI PA-DSS validation?
    A. The PCI Security Standards Council PA-DSS program addresses payment applications used to accept and process payment for goods and services. A device such as a Coin is seen as similar to a payment card in a consumer’s wallet and the standard does not apply.
    Q. Does Coin keep records of or have access to my financial data?
    A. No. Coin does not have any access to your financial data. Your card data is encrypted and stored locally only on your mobile phone and Coin device.
    Q. What steps does the Coin app take to prevent cards from being added fraudulently?
    A. The Coin app requires that you take a picture of the front and back of the card, type in card details, and then swipe the card (using a reader we provide) to ensure the card’s encoded magnetic stripe data matches the card details provided. It is not possible to complete these steps unless you are in physical possession of a card. As an additional safeguard for payment cards, you must also confirm the amount of a temporary authorization by accessing your online bank account and confirming this temporary transaction amount. In this way, Coin verifies that every card you add to the device is one that you have both physical and account access to.
  •  Durability (6)

    Q. How long does a Coin last? Do I recharge it? What happens when my Coin’s battery dies?
    A. Coins are designed to last for 2 years under normal usage and do not need to be recharged. Once the battery dies you will need to replace your Coin. Here is how we calculate normal usage.
    Q. Won’t the Bluetooth connection between my Coin and my phone drain the Coin’s battery?
    A. Bluetooth Low Energy (BLE) is designed to consume very little power and in addition to that we’ve carefully optimized communication between the Coin and Coin mobile app. Under normal usage, a Coin’s battery should last 2 years.
    Q. Is Coin waterproof?
    A. Coins are water resistant but not waterproof. If you spill your coffee or juice box on your Coin it's probably no big deal. If you put it through the washer or take it swimming your Coin will likely cease to function as designed.
    Q. Will a Coin be damaged by going through a metal detector or an x-ray machine in an airport?
    A. A Coin will not be damaged going through a standard metal detector or x-ray machine.
    Q. What happens if I sit on my Coin?
    A. Coins are built with some durability and flexibility so don’t worry too much. Your Coin however is an electronic device so if it is folded or bent at extreme angles it will most likely break.
    Q. What happens when the magnetic stripe wears out?
    A. If the magnetic stripe becomes unreadable you will need to replace your Coin. Since the electronics that generate the stripe data are below the card surface this should be much less of an issue than with a traditional card where the stripe actually comes in contact with the card reader.
  •  Referral Program (6)

    Q. How do referrals work?
    A. When you pre-order your Coin we conjure up a unique referral code URL using a mystical form of alchemy. If someone clicks the referral code link and pre-orders a Coin within 90 days, you get $5 credit. Magic loves to be shared.
    Q. What are the rules?
    A. We want this to work in your favor but there are a few rules. This isn’t Thunder Dome.

    First, we’ve got to be able to charge the person you refer. If there are any hiccups in processing the pre-order payment for a referral we cannot bestow the $5 credit upon you.

    Second, regardless of the quantity of Coins your friend orders you will still only receive a single $5 dollar credit.

    Third, we will honor your referral credits up to 90 days after you pre-order your Coin.

    Finally, you can earn up to the purchase price in referral credit.
    Q. How will I know when I’ve earned referral credits?
    A. Each time you earn a $5 referral credit, we will send you an email.
    Q. How will I receive my referral credit?
    A. We will issue a $5 refund to the account you used to purchase your Coin. If we hit any snags issuing the refund we’ll contact you via email and get it straightened out. We take the referral process seriously and want to reward you for spreading the word about Coin.
    Q. Can I use my own referral code?
    A. Clever, but no.
    Q. Will the referrer be notified when I use his code?
    A. When a referral is successfully processed the referrer is notified that…someone…has used his/her referral link. However, the identity of The Masked Referrer is forever a mystery! Unless, of course, you tell them it was you.
  •  Supported iOS Devices

    Coin is compatible with iOS devices that have Bluetooth 4.0 hardware and that are running iOS 7.0 or later. Here is a list of devices that support these specs.

  •  Supported Android Devices

    Coin is compatible with Android devices that have Bluetooth 4.0 hardware and that are running Android 4.3 or later. Here is a list of devices that support these specs.