Gadgets

Coin flips: Beta testers won’t have to pay for the final product

Image Credit: Coin

Only a day after announcing that the finished product would be delayed from this summer to next spring, Coin has some good news for backers who pre-ordered the credit card replacement device last fall. 

Coin will extend its beta program to 15,000 backers from the 10,000 backers it initially announced on Friday, according to an email sent to backers on Saturday afternoon.

But that’s not all. While Friday’s announcement stated that backers could opt into the Coin Beta program and afterward receive the finalized Coin product for $30, Saturday’s Coin letter states that the upgrade from the Coin Beta product to the finalized device will be free.

Coin’s says its device is on track to perform well:

We have achieved ~0.84 mm form factor with e-ink screen and Bluetooth low energy.  We even found a button that has a tactile touch so you can feel feedback every time you press the button on Coin.  Coin swipes successfully in 85% of the locations we visit.  Our hardware team is focused on the remaining 15%.

On top of these changes, Coin promised even more transparency to backers alongside a dedicated web location designed to collect backer feedback surrounding the delay issue.

There’s no doubt that most backers will welcome Coin’s changes to the delay and beta pricing issues. With regard to the feedback page we can’t help but feel that in addition to helping Coin collate and process all of the complaints, the ability to drive users there will alleviate public complaints that they would have otherwise posted publicly on social media networks.

If the Coin Beta program rolls out on time (Fall 2014), backers will get a chance to slim their wallets this year rather than having to wait six additional months to get their hands on the device. Coin’s beta hardware won’t have all of the bells and whistles that the final product has promised, but with feedback from 15,000 or more backers to use as a guide, there’s a chance that the final product may actually exceed most users original expectations.

You can read Coin’s apology letter to backers here. The password is “letter.”

 

More information:

We are a consumer electronics company focused on creating things that that make life better. Our flagship product, Coin, is a connected device that allows you to carry fewer cards in your wallet with security and utility beyond what a ... read more »

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15 comments
Tim Dick
Tim Dick

Shocked, I say, shocked.

Ben Liong
Ben Liong

It's pretty much as secured as credit card right now if not more so, having it tied to the mobile app means you lose it less often. There's a very important balance that these guys are trying to strike between people actually willing to use the device and the security the device offer.

Sam Seckler
Sam Seckler

A lot of people tend not to read the receipt that I know of, just signing the piece of paper out of habit.

Scott Wasson
Scott Wasson

1. You still need to sign the receipt. 2. They can run a normal single card multiple times right now, but see #1.

Sam Seckler
Sam Seckler

Ok, that would make more sense then, as the video about the Coin didn't mention that at all (if I watched it correctly)

Alex Stone
Alex Stone

The card + app lets you lock the card that gets used, to prevent this.

David Feinstein
David Feinstein

already outdated technology and the product isnt even out LOL

Sean Mulkeen
Sean Mulkeen

No PIN usage which is the way of the world now...needs update

Sam Seckler
Sam Seckler

You know how you can switch cards with just a press of the button? If you handed it to the waiter/waitress and they knew how to operate this, couldn't they charge the other cards without you knowing it until it's too late?

Lynne McCabe
Lynne McCabe

Mine has been on Oder almost a year too!

Matthew Androski
Matthew Androski

Major issues. Email went out to more people that they can support. Mine been on order almost 1 year.

Simon Perry
Simon Perry

its shitstarted! it's never gonna come out as advertised

Ian Mason
Ian Mason

Wth? Why not? I was fine to pay for it