We started as a small team of seven people working to build what many have called a universal card. When we introduced Coin, a connected payment device that contains all of your credit, debit, gift, and loyalty cards in one place, we were blown away by the demand -- over 20,000 orders in the first six hours. We have been working tirelessly ever since to deliver you Coin. We’ve grown the Coin team to 33 full-time employees who are singularly focused on delivering a product you will be proud to own.
Because nothing like Coin has been done before, we’ve had to design, from the ground up, machines that build the custom parts that make up Coin. We’ve developed and manufactured custom components at scale with international partners and supply chains that span across three continents and four countries.
While we know many of you are still waiting, we wanted to share just how close we’re getting to delivering Coin. These are some things we’ve done to make sure Coin works for you:
• We tested over 200 unique card readers and POS (Point-of-Sale) devices representing the vast majority of deployed merchant systems.
• We ramped up our customer support team with a new Support Center and driven our average response time down.
• We delivered Coin to a San Francisco Bay Area Beta Program where we collected valuable feedback that validated Coin's POS compatibility and merchant acceptance. To date, we've seen users pay with Coin at over 4,000 distinct merchants.
• We are now shipping Coin Beta, a pre-production version of Coin, that allows us to incrementally introduce Coin to real-world customers across the United States. We experienced huge demand for the beta program and were only able to accommodate 15,000 customers -- a small percentage of people who expressed interest in participating.
We began shipping Coin Beta in November and continue to ship Coin Beta in batches to the 15,000 users who are a part of our Nationwide Beta Program. Each new batch release of Coin Beta comes equipped with the latest improvements based on customer feedback. By shipping Coin Beta in batches, our internal teams are learning how to improve our software, product, manufacturing, and fulfillment processes for general availability in Spring 2015. From user-submitted feedback, we've seen Coin Beta accepted at local merchants, ATMs, gyms, national chains like McDonald's, Trader Joe's, Rite-Aid, CVS, and many more.
Coin was built by our customers and continues to be refined by our customers. Everything from product packaging to customer support has been influenced by you. We know you are waiting; our team is working hard to fulfill our only mission - to bring you Coin.
With our thanks,
Kanishk and the Coin Team
An initial look at what our users are saying: