November 16, 2013

These companies are again trying to replace your wallet

In the middle of 2012, Trejdify Top Stories featured an article called These companies are trying to replace your wallet where we went through a couple of new companies with the goal to replace your wallet with your phone. Now it's time to update the article.

The companies featured in the article were:

It was interesting to see that neither of these companies have closed their doors - they are all still in business. Otherwise it's common in the tech world that you change your idea or have to shut down because you are out of money. What has changed is that a few more companies have been added to the list so this article can be seen as a part 2 to the other article. 

Loop

Loop claims to be the the world's 1st mobile wallet that securely stores all your cards and lets you use them at 90 percent of retailers around the world. The company is new, they have brought in $124 000 through Kickstarter, and they offers two similar products:
  • Fob
  • ChargeCase - the only difference compared with Fob is that the ChargeCase protects your phone and extends the battery life by over 60 percent, but it is only compatible with the iPhone 5 and 5s

Coin

Coin is similar to Loop but instead of storing your cards inside of your phone, they have developed one card (called coin) that will hold all of your cards. Each coin card can store a maximum of 8 cards and to buy one coin, you have to pay $100. Each coin will last for 2 years and then you have to buy a new one. They will begin to ship in 2014.