The premise behind Coin
is attractive: consolidate credit cards onto a single card-sized gadget
. However, on Friday the company announced a delay
in the release of its final version from this summer to spring of 2015, and in a way that angered many of the project's crowd-funding backers. The announcement of a delay was not only sudden, and quite close to the previously announced shipping date, but upset those who'd pre-ordered by outlining a confusing beta program that would involve an interim product release — recipients of the beta version (limited to 10,000) would have had to then pay $30 to upgrade to the final product. As CNET reports, the delay until 2015 remains, but with regard to that beta program,
Coin has now reversed its stance. The beta program will be free -- meaning preorder customers who opt-in will no longer forfeit the $55 they paid and will still receive the finished Coin product next year. The program will also expand from 10,000 customers to 15,000. Regardless of whether your smartphone is running Apple's iOS or Google's Android operating system, preorder customers can opt-in to Coin's beta program through its app and will be eligible for a device if they fall within the 15,000-person threshold. The order is determined by when you bought your Coin.
Coin customers, some who placed orders as far back as November 2013 when the startup first opened its website for preorders, were displeased not so much with the product delay as with the way Coin handled the situation. The company had, as recently as August 14, sent out an update explaining that a long-awaited shipping announcement would arrive at month's end --yet without an indication that it may miss its shipping target.