Today is the first day of TechCrunch Disrupt New York. There are tons of things going on today, but one of the first things that we got to see was a demo of Coin. Coin, if you aren’t aware, is a company that is taking a pretty unique approach to payments. According to their website:
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.1
There has been quite a buzz about Coin, and we finally got to see it in use this morning at TC Disrupt. CEO Kanishk Parashar gave the audience a quick demo:
Prashar started off with a quick overview of Coin, and how it works. Essentially, Prashar said, that the hardest part of the project has been shrinking the device down to the size of a credit card. Everything else was pretty easy. Anyhow, Coin worked exactly like we though it would:
You upload card information into the mobile app. The app then holds all of this info. You then choose which card(s) you want to sync to the Coin. Then, when paying for something, you slect the card you want to use on the Coin card itself, then scan it just like you would a normal credit card. After seeing this demo, it os clear why there has been such a buzz about Coin. Here is the company’s demo from a few moths ago:
