6 comments

  • Joe BarberJoe Barber, 6 years ago (edited 6 years ago )

    So instead of carrying around my credit cards I get to try and explain this box to every cashier interact with?

    "No, I know you don't have NFC here, this ominous black box is actually just making your credit card terminal think I swiped a card. No big deal."

    Because that's not going to alarm anyone.

    2 points
    • James Young, 6 years ago

      I currently carry around 3 plastic cards in my pocket which take up less space and I don't have to recharge them.

      This sort of thing feels like it might be part of the landscape in a few years but I think it's 50/50 because for the average person it's not really solving a problem.

      4 points
  • Peter Vogt, 6 years ago (edited 6 years ago )

    The site design, while executed nicely, is much like the consumer product in that it just seems to emulate what Coin is doing with their website. Or did.

    1 point
  • Riomar MccartneyRiomar Mccartney, 6 years ago (edited 6 years ago )

    The website does its job of showing the product, but it the visuals are so gimmicky, I mean it looks like all Apple copying companies website (Meizu, Xiomi...). Aside the website, the product... that thick black box? I don't wanna hate on it but it look really cheap and a card looks so much more convenient than having this box.

    0 points
  • Joshua TurnerJoshua Turner, 6 years ago

    After being burned by both Coin and Plastc, I can't see myself crowdfunding yet another Credit Card replacement.

    NFC or bust.

    0 points
    • Mammad Emin, 6 years ago (edited 6 years ago )

      Hello Joshua, we fully understand your concern for product like this since similar products have tried to deliver their promise of changing the payment experience but never succeeded. Stratos recently went out of business, and Coin only supports Track 2 payment with poor acceptance rate. It is highly doubtful that Plastc can manage to perfect their technology by this fall, which is their estimated ship date that has been delayed for over a year already.

      We find the reason of this failure from their technology. Indeed, we tested all available competitors in the market and concluded that others use rewritable magnetic stripes with which cards are not reliable, and have very low acceptance rate. In other words, their method of swiping cannot guarantee high reliability due to technological deficiency. Instead of swiping, Spendwallet adopts a tap-to-pay method, providing the highest coverage. This is where we proudly introduce Magnetic Flux Emulation (MFE) that is different from what our competitors have. With this technology, Spendwallet uses magnetic fields to send transaction data over the air to make the card reader to respond as if a card has been swiped. Hence, Spendwallet can be used anywhere that accepts magnetic payment cards.

      Long story short, Spendwallet is better than all those all-in-one smart cards. Hope this clarifies your concern. Cheers!

      0 points