The Demand For Coin Continues To Grow

September 17, 2014, Written By Bill Hardekopf
coin

The anticipation for Coin’s revolutionary smartcard continues to be rather astounding.

Coin is a smartcard and app that stores the information for up to eight credit, debit or gift cards. It combines the functionality of a mobile wallet with the swipe-ability of a standard credit card. Coin can act like any one of the cards you load onto your account, and you can switch back and forth between cards with a simple touch of a button.

In August, Coin announced it would be expanding its beta test program from 1,000 to 10,000 users as the demand for the all-in-one card built. However, it seems that a high opt-in rate for the beta program has left many pre-order customers out of the beta program yet again.

Coin originally wanted to charge beta testers an extra $30 for the final product, but the company quickly changed that to allow anyone who had pre-ordered Coin to opt-in for a prototype. They expanded the number from 10,000 to 15,000 consumers, but even that was not enough to keep up with demand. Almost every person who had pre-ordered Coin opted into the beta test program, leaving a lot of customers out of the 15,000 cutoff.

Coin released a statement on its website that said, “Due to a high opt-in rate of 96.25 percent, if you ordered after November 14, 2013 3:06:38 p.m. PT it is unlikely that you are eligible for Coin Beta.”

That means in order to be one of the lucky beta testers, you would had to have ordered Coin within the first six hours it was available for pre-order.

This is proving to be another public relations blow for Coin, whose customers are anxiously awaiting the product’s official release. Despite the backlash Coin is receiving, the product is still expected to be in great demand once it hits the market.



The information contained within this article was accurate as of September 17, 2014. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.