Startup Touts All-in-One Digital Credit Card 222
First time accepted submitter NoImNotNineVolt writes "Coin, a Y Combinator-backed startup, has started accepting pre-orders for a device as slim as a standard piece of payment plastic that can hold eight credit, debit, and gift cards in its dynamic magnetic stripe. Paired with the Coin smartphone app via Bluetooth low energy, card details can easily be swapped in and out of the device. A minimalist user interface on the device itself allows the owner to toggle between the loaded cards and then swipe just as they would their ordinary card. All card details are encrypted (both on the device and in the smartphone app), and the device's on-board battery is expected to last for two years of typical usage. No support for chip&pin (EMV) yet, so this may have limited utility outside of the USA. They expect to start shipping in summer of 2014."
Re:Great for CC scammers (Score:5, Interesting)
Vendors are not supposed to accept card without a valid signature on them. That alone would place them in breach of contract with the credit issuers and card processors if they accepted a cloned card.