The Start of Mass Production

The Start of Mass Production

Coin began as one of the largest crowdfunding campaigns in history: customers pre-ordered nearly 350,000 units in less than two months. For context, that is nearly triple the number of iPods sold in its first two months. We were humbled that so many people were excited by our vision, and also by the formidable challenge to deliver to your expectations — and ours.

Our team — then just seven employees — worked day and night to fit a variety of components (an electronic stripe, battery, Bluetooth radio, e-paper display, and more) into a device the size of a credit card (less than 1mm thick). One year, 42 test design iterations, and 100,000 beta test transactions later and we are delighted to be manufacturing and shipping the first Coin devices.

The journey took longer than we expected, but we never wavered from our goal of delivering a product of exceptional quality. Our beta program proved that Coin stands up to the demands of real life: in your wallet, in your pocket, in the cold, in the heat. (Though we don’t recommend it, one beta tester even put his Coin through the laundry — twice — and it still worked afterward.)

Today, we have begun manufacturing Coin devices and delivering them to you. Given the sheer volume of units, it will take several months to fulfill all of the pre-orders even at full production capacity. Please know that we will be fulfilling orders as fast as humanly possible.

You can expect Coin to work in millions of locations, including corner stores, restaurants, ATMs, grocery stores, and big-name retailers. Every month, we improve compatibility in more and more places, but it is not 100% yet. For example, a small percentage of merchants use payment systems that require your name in addition to your credit card number. Coin does not transmit the name on your payment card, and so machines at these merchants will not accept Coin.

We are acutely aware that we are delivering Coin behind our original schedule, and we are extremely grateful for your patience and support. We made it this far because of you and we are so excited to have you as a part of the Coin Community. But if you have decided you no longer want your Coin, you can get a refund here. If you stick with us a little longer, we think you will find the wait has been worth it: Coin simplifies your wallet, and by doing so, simplifies your life. And, as our beta users saw, there’s a bit of magic that happens when people see it in action for the first time.

Kanishk, Founder

Welcome to the Coin Blog

Welcome to the Coin Blog

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.

Beta testers are paying with Coin all over the country with a concentration of users on the coasts. Over 334 cities have had a Coin transaction.

Beta testers are paying with Coin all over the country with a concentration of users on the coasts. Over 334 cities have had a Coin transaction.

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: