Most credit card holders are understandably reluctant to use their smartphone for transactions due to a variety of reasons. However, there might be a revolution coming soon that makes making payments easier than ever. All those credit, debit, and gift cards littered throughout the sleeves of your bifold will disappear. Either people will start paying for everything with their phones, or the all-in-one credit card will become a staple. The all-in-one credit card, while perhaps slightly less practical, would be pretty cool. If you’re thinking of becoming an early adopter, you probably want to know which one you should be excited about.
Coin has a very simple design and it is designed to mimic the credit cards you know and love. It can be swiped just like a standard card, and thus can be used just about anywhere. With Coin 2.0, it will include EMV (EuroPay, MasterCard, and VISA) via NFC. While it can store up to eight cards and flip through them, the limited card storage is dwarfed by some other offerings. However, Coin only has a life expectancy of 2 years, then it needs to be replaced. We’d ideally want something that doesn’t cost $50/year to own.
SWYP is very much like Coin except it can store up to 25 cards in its encrypted memory and it is made of out metal. The company also claims that SWYP will be EMV-ready with a firmware upgrade. SWYP can also learns about the user’s spending patterns and will pull up the right card depending on where the user is. While SWYP’s battery life is also two years, the company says it’ll be rechargeable.
The Wocket is not just a card, it is a wallet too. The Wocket Card, however, is not EMV-ready but the company claims they will figure a way if need be. While the user has to use a smartphone app for updates, the user don’t need to use the phone at all if he/she don’t want to. It will also support barcode, QR code, and eventually Bluetooth payments. Users can also unlock it with a PIN, or their voice. Oh, and it can store up to 10,000 cards. The battery is rechargeable, and it will last up to a year.
Plastc’s design looks really awesome. The e-ink display and overall design make it look like a minimal, modern credit card. An EMV chip is also embedded into the card, which will allow it to be used in all EMV machines and devices. Plastc can store up to 20 cards and it is interchangeable within the app. Like the Wocket, it will also support cards with barcode. Battery lasts for 30 days, and it is rechargeable via wireless charging. However, it seems that there will be some annual subscription fee, which will definitely deter some consumers from purchasing.
Like all the other all-in-one cards, the Stratos Card stores all of your debit, credit, loyalty, gift, membership and other magnetic stripe cards on one secure device. The card pairs via Bluetooth Low Energy connection. The card itself stores three favorites that can be used at any time, with an unlimited amount of cards that can be stored and accessed digitally within the app. The Stratos also has a subscription fee, but unlike Plastc, the company will replace or upgrade the physical card each year as part of the subscription. Sounds pretty hassle free to us.
Cost: $95/one year & $145/two years