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'Plastc' Smart Payment Card Aims to Replace Card-Stuffed Wallets
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I signed up for one, but I do lots and lots of ATM's. I think Apply pay is great for purchases, but Platc would be great for ATM and restaurants. I'll probably wait for second generation Apple Watch more for sensors and health than paying for stuff, I think that iP6 will do a great job for lots of POS needs.
Because a lot of POS systems still require swipe and/or chip insertion.
Also, apple pay has limitations that means it can never replace a wallet.
If my phone battery dies, I lose access to my money. If my phone is lost or stolen, I lose access to my money.
Plus, I still need to carry a wallet, for cash (although I never really carry cash anymore), drivers license and other forms of ID, transport passes, and keeping receipts from purchases.
If I have a wallet anyway, I'm more inclined to use something like this over apple pay, or use both.
Never seen it and this is not really relavent.
How so? It's no different than now.
Like losing your wallet???
Flash corruption? Flash can/does have ECC.
Static electricity? Not a problem as long as you design for ESD resistance.
Humidity? Hermetically seal it. There are no user serviceable parts inside.
None of what you outline has to be an issue in a well thought out design.
You lose it, you pay to replace. It's not like a plastic slab with a magnetic strip that costs all of $.30 to produce.
And? What's that got to do with my wallet?
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Send an email to help@onlycoin.com with your preorder number. I cancelled today and they were quick to respond back.
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I preordered a Plastc, make that donated my dollars for one. Hopefully they'll be able to deliver vs coin.
Looking forward to Apple Pay, but what happens at restaurants? I'm not handing my phone over to a wait staff nor am I going to follow them to the restaurant POS to pay the bill. You'll still have to hand over your credit card unless they deploy wireless NFC terminals.
Ironically, you have to email them the request. No other way.
Interesting, I'm surprised they responded so quickly to your request. They're comments section on Facebook and their site are filled with disappointed supporters either waiting for a response to their inquiries or cancelations.
I haven't had the chance in researching "Plastc", what made you decide on ditching "Coin"? I'll check tonight before heading to bed. Thanks!
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Wireless chip and pin terminals exist that they bring to your table, so wireless nfc will be around too
My take is this whole programmable, account resident, credit card concept is DOA when NFC payments become common.
If anything, credit card data should be on a smartphone with a secure wireless link to a credit card-like receiver for swiping if an NFC terminal is not present.
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And that is the flaw. I doubt if any of these programmable credit card designs are well thought out. This type of nascent market, there is too much of a "be first out" rush to do a good job on the design.
I keep getting emails from Belroy about their wallets. They look really nice and I was thinking of buying one as my current wallet is too bulky and heavy. Would you recommend them?
I love all this contactless stuff. I buy my rail tickets using an iPhone app then all I do is show the conductor my mTicket on the iPhone screen. It's brilliant. Saves so much time and effort.
Admittedly I am skeptical about this product actually coming to fruition especially after the Coin debacle but there is one point I would make concerning why this solution might be useful. I have used Google wallet and would think that Apple Pay will work in a similar manner in that I cannot seem to make a payment when I don't have a working data connection. Granted this is in very few places but I especially notice it when I am out of the the US where data plans seem excessively priced and I choose not to pay for them. For this reason I will be rooting for Plastc's success.
I tried that at a gas station. They had a $5.00 minimum charge amount. 'Buy at least $5.00 or that is what we charge.' I thought WTF!!! That's highway robbery! Damn...
Great, another hyped up product that will be "promised" to deliver and never show up. I'm still waiting for my coin, and my tiles. These start-ups really need to start delivering what they promise to the consumer. I realize they are trying to deliver a quality product, but to me they are promising way more than they can deliver, which makes me doubt their future.
All this NFC stuff freaks me out. It would be easy for someone to grab a reading of the device and then *POOF* there goes your money. Even RFID is questionable technology in my book. The commercial years ago featuring the guy wheeling his grocery cart through the pylons and being totaled up and charged for the goods and charged without stopping is ridiculous.
But anyway...
Jacked up prices are common when you scan things at the grocery. That's why one of the first things our new bought and paid for republican governor did was sign a bill to kill the item pricing law in this state. You used to be able to get 10 times the amount of the over charge (to an upper limit) when the scanners 'accidentally' over charged you for an item. Now, you just have to bitch and hope they honor the lower price. Some stores won't. The item pricing law also required that retail stores had to mark 'all items' with a clearly readable price. Now, you never know what you will be charged, and sometimes it varies day-to-day in some stores...
Ahh, progress...
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The truth is many business fail within the first six months of their existence. Some never make it past opening the doors.
I'd be curious to know how many 'crowd source funded' companies actually deliver their products...
But anyway...
Jacked up prices are common when you scan things at the grocery. That's why one of the first things our new bought and paid for republican governor did was sign a bill to kill the item pricing law in this state. You used to be able to get 10 times the amount of the over charge (to an upper limit) when the scanners 'accidentally' over charged you for an item. Now, you just have to bitch and hope they honor the lower price. Some stores won't. The item pricing law also required that retail stores had to mark 'all items' with a clearly readable price. Now, you never know what you will be charged, and sometimes it varies day-to-day in some stores...
Ahh, progress...
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The truth is many business fail within the first six months of their existence. Some never make it past opening the doors.
I'd be curious to know how many 'crowd source funded' companies actually deliver their products...
Gas stations are a big one. I see tap to pay logos at a lot of places, but they don't work.My Coin, that hasn't even arrived yet, is already obsolete
If everything their promising actually arrives on time, then I'll be very impressed.
Let me remind you who is actually using it at launch
https://www.apple.com/apple-pay/
Besides Disney store, every one listed there is in any medium to large sized city in the united states. Every mall across america has each of those major retailers.
There's still more coming too. This will take off and people will use it.
Everyone keeps ignoring the biggest question here which is, how on earth do they plan to integrate with EMV/Chip and PIN - because this is a security technology specifically designed to prevent cards from being cloned, which is exactly what this does.
There's 3 possibilities the way I see it.
1 - They THINK this will somehow be possible simply by sticking a chip on the card, and they're in for a rude awakening.
2 - They plan to use the magnetic stripe information from a Chip enabled card, but this is no good because that magnetic stripe information will identify your card as a Chip enabled card, and the terminal will insist on the dip instead of a swipe.
3 - They've made partnerships with major banks for the encryption codes for cards, but this is extremely doubtful, as I can't see banks handing over control of their cards to someone else. Puts them at major risk if there's ever a breach of security somehow.
[Edit] According to the fine print, they have no such partnerships with any of the banks.
If you had shown me this 5 years ago, I'd have told you it was a great idea, (in the US only), but as the rest of the world uses Chip & PIN, and we move into mobile payments, I just can't see this being a thing.
There's 3 possibilities the way I see it.
1 - They THINK this will somehow be possible simply by sticking a chip on the card, and they're in for a rude awakening.
2 - They plan to use the magnetic stripe information from a Chip enabled card, but this is no good because that magnetic stripe information will identify your card as a Chip enabled card, and the terminal will insist on the dip instead of a swipe.
3 - They've made partnerships with major banks for the encryption codes for cards, but this is extremely doubtful, as I can't see banks handing over control of their cards to someone else. Puts them at major risk if there's ever a breach of security somehow.
[Edit] According to the fine print, they have no such partnerships with any of the banks.
If you had shown me this 5 years ago, I'd have told you it was a great idea, (in the US only), but as the rest of the world uses Chip & PIN, and we move into mobile payments, I just can't see this being a thing.
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I really like mine. Like I said, I have their Hide & Seek which still has aspects of a traditional wallet but certainly slimmer. Their slim sleeve is probably their other popular one, but I wanted more storage space. The leather is very nice.
The chip cards are starting to appear in the US. American Express sent me one a few months ago.
In the US, the consumer has almost zero liability for fraudulent use of their cards. The emphasis has always been on ease of use. The banks eat the cost of fraud to keep the customers mindlessly using the card.
I would imagine this will likely be a software fix as larger companies come aboard, although knowing apple they will likely also require a hardware upgrade.... Gotta make that money, on top of making that money!! Agh capitalism!!!
I love the idea of Apple Pay as much as the next guy, but not living in the US, I don't have my hopes up that it'll ever see the light of day in Canada (Hello, iTunes Radio). This would be a nice alternative. Plus, it can be used at the many places that don't have contactless payment terminals.
But seriously, this and my fabled Coin card will be relevant for years to come (if/when they launch). Even though the big box retail and banks may debut ApplePay, I highly doubt Alberto's will be offering 'tap to pay' for my surf and turf burrito by this Fall or anytime soon.
This Plastic card though, way to pricey.
This Plastic card though, way to pricey.
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I too am annoyed with coin, which is why I didn't jump on preordering plastc.
NFC on ApplePay is safer than your card due to tokenization. Remember Target, and Home Depot? People in Europe and Asia has been carrying NFC cards for years, and even on crowded subway trains within inches of each other, and the whole scan your wallet thing hasn't been an issue.
I also carry two NFC Wells Fargo cards, For almost a decade and also never an issue.
I though have gotten hacked at Target, which NFC would have prevented due to the tokenization.
As for marking each item? No store I know of does that anymore, that's what shelf tags are for.
Though I admit they shouldn't have killed the whole law.
What's the incentive for banks to offer this? Why would Chase, Citi, BofA or anyone else want to allow you to store their competition on their hardware?
At that price it's only going to appeal to a small number. Heck, even at $50 I don't think many people would get one.