I was looking at my wallet the other day, and wondering why i can't slim it down even further to carry one digital card instead of multiple. i even thought it would make a good startup. and here we are.
the only drawback in my mind's eye regarding coin as a business is that there will be no reason to have "swipes" anymore if you can just scan a smartphone, as with the starbucks card.
however, the widespread use of scan technology is years away, whereas the swipe is ubiquitous now.
ergo, IMHO, coin will be a success if they can execute on the product.
Yay? In any case, it does seem odd to build a business around something that is virtually guaranteed to be extinct in a few years time.
I'm not being a hater, this is just an occurrence where this might not work well. I still think it's an awesome idea though, and I'd like to get one.
It's probably like a gas station authorizes your card for a certain amount before pumping, but then actually charges the specific amount you pumped at the end.
In all seriousness, most bars hold a CC and ID for a tab.
Add another item to the list of problems.