After pushing NFC as the future of payments, Google Wallet will now provide a plastic, prepaid debit card. The decision is a sign that NFC is being adopted at a slower rate than many anticipated as many consumers feel there is not that much friction involved in the current system of payments after all. That said, Square and Paypal have been instrumental in payments going mobile and recent entrant Coin is trying to connect all your cards to a single one managed via an app. Stay tuned as the payments race continues.
Coin Consolidates Cards For Flexible Payments
Coin may stand a chance to revolutionize the payments space by allowing you to consolidate your bank and loyalty cards onto a single platform. The Kickstarter project allows you to tie all of your cards to a single one via bluetooth and then actively manage which one you use through an app. Unlike other payment startups, Coin is not a disruptive technology, but an enabler; one that lets you pay chiefly the same way you always did but with more flexibility. While they may run into some friction with banks and merchants who have not sanctioned this activity, the utility Coin provides is worht of attention.