COIN: Anyone considering it? (1 Viewer)

[Kevin Collins]

I've been back from my trip to KY with my son. It was hit and miss there but the most perturbing incidents was getting cash. I rarely travel with cash and rarely used it, but i need $300. I left my ATM card at home because --- well because it was on my COIN! Bad choice. First none of the motor ATM's would even let the card in their slot! I then went searching for the slider types of ATM's and they wouldn't read the card. I had essentially given up until I found an ATM in a union cafeteria -- after 10 swipes it cook my PIN and I got my cash!


Grrrr...

 

[DaveF]

Yikes.

 

[DavidJ]

Yeah, this product sounds like a failure. It'll be interesting to see what it's like when (if?) mine finally arrives.

 

[Kevin Collins]

I asked COIN to refund my money as it isn't solving the primary problem of reducing my wallet size. This is what I got back from them... I have about five more failures where the POS would not take the swipe (Lowe's and MOD Pizza were among the latest. At this point it is nothing more than a conversational piece with the cashier register. I will be taking it out of my wallet pretty soon. I carry all my other CC's with me now, so all it is doing is INCREASING my wallet size.


I was taking pictures of all the failed POS's and sending them to them. Always feel I should help a startup, but the response below will keep me from helping them anymore. If I was a startup, I would be providing some incentive for more testing in the field. I don't know where their QA is or how they got past their early pre-beta in SF, but either the folks testing for them only went to the same POS's or SF has entirely different POS's than Seattle and Bowling Green, KY!


Jack from Coin (Coin)

Jul 10, 15:06

Hi Kevin,

Based on your submitted information, your Coin is functioning as designed - which is to be a secure connected device that lightens your wallet. We understand your frustration that Coin may not be functioning to your expectations and that you are experiencing a higher than usual amount of incompatible locations. Please remember, Coin is a new technology that has just entered the payments market and is currently gaining traction due to early adopters like you. We are working to increase Coin's compatibility everyday with help from our users.

But as previously stated, your Coin is functioning as designed and thus, we can not offer you a refund as per our refund policy.

Kind regards,
- Jack

 

[Ronald Epstein]

That is totally unacceptable that you cannot get a refund from this company.


If you are dissatisfied with the performance of a product within a short period of time following purchase, there should be a refund period made available to you.


Of course, the company can dictate what it wants, but I am wondering if their policy can be fought.

 

[Sam Posten]

That really sucks Kevin. I'm not happy to have been proven right on this one, was hoping it would surprise me in how much you guys who were intrigued by it would prove me wrong in actual use.

 

[DaveF]

Jack from Coin (Coin)

Jul 10, 15:06

Hi Kevin,

Based on your submitted information, your Coin is functioning as designed

The COIN is designed to not function?

 

[Kevin Collins]

The COIN is designed to not function?

Well, it didn't make my wallet get smaller and it guess it was designed to only function part of the time..

 

[Kevin Collins]

I wound up sending some of my latest data to COIN. Here is the response. I will take them up on their offer --- I'm a sucker for startups and trying to get technology better. I would probably ask all the same of you folks for HoloLens...


Sho from Coin (Coin)

Jul 20, 16:03

Hi Kevin

My name is Sho, one of the managers here at Coin. I have read through your support ticket as well as the comments through the home theater forum. My father is a lifelong Home Theater enthusiast (constantly buying, selling,trading speakers, receivers, projectors for his movie room) so seeing discussion of Coin in the forum has been interesting.

Thank you for your constructive and honest review. We appreciate your early support and patience, and am sorry to hear about your frustrations as a result of compatibility issues.

To breakdown your experience based on the listed locations:
-If the POS does NOT recognize Coin (eg. does not beep, does not show a message), it means there may be an issue with your Coin. This is dependent on knowing the POS make.
-If the POS recognizes Coin (eg. beeps, shows a message) but the transaction does not go through, it means there is an issue with the POS’ compatibility rather than an issue with your Coin.

After review, it seems you are experiencing a higher than average amount of locations with compatibility issues. For example you mentioned Lowe's which currently requires name data for it's transactions, something Coin does not transmit.

We are acutely aware of compatibility issues with Coin and are actively working to close the compatibility gap. When users report locations with compatibility issues, our team works with merchants and payment processors to understand and, whenever possible, resolve the matter with product improvements. Improvements will come through in-app, firmware, and other updates.

As stated in our refund policy, we are unfortunately unable to offer a refund for Coin once your name is engraved on it. The main reason is that with your name on it we can not resell or reuse the device even if you return it. While we can not offer a full refund, what I can offer is $25 for your continued support and feedback.

Knowing that improvements are coming to Coin, would you like to continue to use Coin? The credit card I have on file is:xxxxx. If the account is still the same, I can process the credit right away.

I hope you can understand the situation and consider this offer for the Coin that has your name on it does not go to waste.

Let me know.

Sincerely,

Sho


Kevincol

Jul 12, 00:38

http://www.hometheaterforum.com/topic/328279-coin-anyone-considering-it/

Might want to read the thread. It certainly isn’t something that is lightening my wallet, it is increasing the size of my wallet. If it functioning as designed, then your advertising is pretty off. When it doesn’t work in about 50% of my purchases, it is essentially useless.

FWIW, here are some more failures:

MOD Pizza: Bellevue WA on Bellevue WA

Lowe’s: Redmond

Redmond Auto Salon: Redmond, WA. Using PayPal swiper.

Veraci Pizza: Redmond, WA

USPS: Bellevue NE 8th. The picture was taken after a real credit card was used:

 

[DaveF]

Glad they could offer some partial refund. But no offer for a new device, which would seem recommended if yours isn't working quite right. Is there no replacement warranty? Or is this a Kickstarter product?


I'm curious as to the "incompatibility". I understood this as a credit card replacement. But it doesn't? So you have to carry this and also all your credit cards for when it doesn't work? I hope they can get that straightened out. It seems a notable limitation. I guess that's the fun of being an early adopter

 

[Moe Dickstein]

I've ended up treating it as a $50 novelty. Couldn't even get all my cards to load onto the app.


When I want to use something I use my phone or watch and Apple Pay...


It's like ordering a buggy whip and then your Model T arrives first before it comes.

 

[Ronald Epstein]

Here's good news...


http://9to5mac.com/2015/08/26/coin-2-nfc-upgrade/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+9To5Mac-MacAllDay+%289+to+5+Mac+-+Apple+Intelligence%29


Free Upgrade, Too!

 

[DaveF]

I look forward to hearing how v2 works.

 

[Clinton McClure]

Epic Fail 2.0? [emoji6]

 

[Alf S]

Can't polish a turd as they say.

 

[Kevin Collins]

Interesting.... I guess since it is free I will have to try it. They sent me out a replacement card as they thought that my card might be defective. I got it last week, but haven't had a chance to activate it yet. I guess why activate it if I can get v2.0?


However, since I have an iPhone 6+ and I use Apple Pay, I'm struggling on why I need it. The idea was to reduce credit cards in my wallet (i.e. EVM chip / magnetic stripe).

 

[Clinton McClure]

Exactly Kevin. Coin would have made sense had it been around and operational five years ago. Now, it's nothing more than a dysfunctional curiosity.

 

[DavidJ]

Well, version 2 of the Coin arrived today. I guess I'll set it up and give it a try. They never sent me the first one so I won't be able to offer any comparison to it.

 

[Parker Clack]

I had signed up to Coin when it first became available and then they kept pushing the release
date back so I canceled. I hope version 2 works out for everyone.

 

[Alf S]

Shocker (not)...Coin is officially dead.

http://www.androidcentral.com/coin-officially-announces-shutdown-product-services