Response: The Smart Way to Pay

There has been a lot of buzz with this new piece of technology known as “coin”. In Huiyin’s blog on a all-in-one credit card, she discusses this new prototype credit card produced by the coin team. I think that there is definitely a market for this new product as it offers such a unique value proposition of easiness and organization to our lives. In today’s fast-paced world, speed is key. The faster something can be done, the more we like it. Coin offers that value and gives us an ease of access to our money while keeping our wallets organized. I found their ad on youtube:
https://www.youtube.com/watch?v=w9Sx34swEG0

Coin works by changing its magnet strips so it can be used as different cards. However, in today’s world, magnet strips are becoming less and less popular. In Canada, magnet strips are only used under two conditions: either the chip is broken and cannot be used or there is no chip to begin with. The world is moving towards a payment system revolving around chips since they are much more secure. If Coin is able to address this problem, there is no doubt it will be successful.