Friday 22 November 2013

Smart Credit Cards May Slow Adoption Of Mobile Payments

Last week, a payments startup calledCoin surfaced and began taking orders for its new payments product - a slim, all-in-one credit card. Users can store all their credit, debit, and gift card info on the Coin card, and do away with the need to carry around multiple cards.
This week, Google has launched a card that consumers can link to their Google Wallet account and balance and use in retail outlets.
While Google's smart card is limited in its capabilities, it is free for Google Wallet account holders. Coin, on the other hand, costs $50 currently and will cost $100 down the line.
From a consumer standpoint, the interest is there. Coin hit its crowdfunding goal in 40 minutes and had to open up more pre-order spots. This, despite Coin garnering heavy criticism from the tech world and concernfrom anti-fraud professionals.

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