FinTech Launches ScramCard, a More Secure Coin Competitor
In the world of cashless payments, all-in-one credit cards are thought to be the way of the future. Products like Coin and Swyp have dominated this sector of the market recently, but a newcomer to the game may steal their spotlight. The product is called ScramCard, and it is said to be “killing financial fraud and identity theft.”
Produced by FinTech, ScramCard is much like its competitors in that it allows consumers to run multiple credit and debit cards through a single device. The ScramCard is shaped like any other credit card in your wallet, and is backed with both a magnetic strip and an EMV smartchip.
ScramCard is different because it requires a PIN before it will initiate any transaction. This extra security prevents unauthorized charges from occurring, and ensures that customers are protected if their cards are lost or stolen.
In many ways, ScramCard is already ahead of the game. The initial launch of Coin was less-than-perfect, with a series of delays in the launch date itself. It wasn’t until the development of Coin 2.0 that users were able to actually able to enjoy the protection of EMV technology on their all-in-one cards.
The idea of having to enter a PIN for every single transaction may seem to be a hassle for some people. There have already been reports of consumers leaving the register because they do not want to wait for chip and PIN transactions, let alone if they have to enter a PIN for every payment they want to make. But this card adds a new layer of security, something all cardholders should embrace.
About Bill Hardekopf
Bill Hardekopf is the CEO of LowCards.com and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.