Essay on Credit Card and Coin

Submitted By denverlobo
Words: 1295
Pages: 6

Intro: Good afternoon, my name is Denver Lobo and I will be talking to you about a new product called Coin.

Transition: However before we start I’d like to get a quick show of hands as to which of you have more than one credit or debit card in your wallet, purse, or pocket.

Intro: A study from Experian, a global leader in providing information and analytical tools shows that the average American has 3.5 plastic cards in their wallet. This includes credit and debit cards, but excludes membership or miscellaneous cards.

Transition: In an effort to simplify and reduce the number of cards that weigh you down, I want to introduce you to Coin.

Intro: So today, I would like to introduce you to a new product called Coin. I will take you through why Kanishk Parashar decided to start this company and what it’s product accomplishes. There are many advantages of using a Coin, so I will walk you through a couple of advantages that I think are most important, and then through a few disadvantages so that you can make an informed buyers decision as to whether you would like to use such a product. I will show you how to use a Coin, and ultimately show you how to pre-order your own Coin.

Transition: Last week I told you all that 85% of the worlds transactions are done in cash, which amounts to a large untapped market for card processors, but also start ups such as Coin.

Kanishk Parashar started this company in 2012 because he believed that you can hold one card that holds all your cards, he spent the first six months prototyping, and the next six months acquiring venture capital funding. He said, “Small alterations go a long way and by simplifying a process you can improve a persons life.

Eventually he came up with Coin. Coin is a connected device that can hold and behave like the cards you already carry. Coin works with your debit cards, credit cards, gift cards, loyalty cards and membership cards. Instead of carrying several cards you carry one Coin.

Transition: Kanishk wanted users to have a great experience on a day-to-day basis. So he made it simple.
Intro: You can have all of your Cards in One Coin.

You would never have to carry a wallet around as you would have every card you needed stored between your phone and your Coin. The dimensions of a coin are exactly that of a normal credit card, which goes along with the idea of having more with less. You can store up to 8 cards on your Coin, and an unlimited amount of cards on your phone.

Transition: Along with the great user experience Kanishk wanted to make the interface easy to use, so he did.

Intro: Swipes like a card. Handles like a dream.

With the picture on the screen, you can see two integral parts of the Coin. First the toggle button, and second the screen. The toggle button is used to flip through the 8 different cards saved on your Coin. So if you want to pay for a business dinner, you can pay with your corporate card, if you’re out for dinner with your family, you can, well also use the corporate card. You might be thinking well what happens if the button is pressed after you choose your desired card? Once you pay for a check with your card, and the card moves out of your proximity, a low energy Bluetooth chip locks the card selected so that it cannot be changed.

Transition: This functionality also makes the Coin Secure. Very Secure.

Intro: The first security feature is that it alerts your phone if you walk more than 7.5m away from your Coin.

As you can see in the picture, the Coin app asks the user, “Did you leave your Coin behind?” As coin is a digital device, you can lock it down completely if you lose it, without locking down or cancelling any of your cards.

The second security feature just like the feature Find my Iphone, you can now find your Coin, so it will have more security features than a regular card.

Transition: Along with the security