Coin to shut down mobile payment services in February

After February, Coin services will no longer be available. (Source: Coin)

While their wallet devices will still operate, all app and support services will shut down at the end of next month.

by Sam Medley, 2017/01/31

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It may be time to close your digital wallet.

Coin, a startup that developed a credit card-like replacement device, has announced that it will shut down all product services on February 28, 2017. This shouldn’t come as a surprise. Fitbit purchased Coin back in May of last year, and Coin stopped all manufacturing and sales of its devices in June. The Coin app, through which users can sync credit cards and other payment options to their Coin device, will no longer be available for download. The mobile app will also stop working for current users and won’t be able to add card information.

While the app and other support services won’t be available, the actual Coin card should work as long as the built-in battery is still running. However, the batteries are only estimated for two years of life. Coin is also suspending all warranties as of today. Once the card is dead, it’s dead. And for the security conscious, Coin said that customer data “will be securely deleted from our servers, as they will no longer be running. The data that exists on your Coin will continue to be protected via your tap code, should you continue to use your Coin.”

This news does not bode well for customers of other companies recently purchased by Fitbit, namely Pebble. The Coin wasn't as successful as Pebble’s watches but still had a strong following. If this is any marker of history, support for existing Pebble smartwatches is not long for this world.

Source(s)

Coin blog

+ Show Press Release

Press Release

With the acquisition of Coin by Fitbit, all business operations ceased on June 13, 2016. The company is no longer manufacturing, promoting, or selling any new devices or products.

Effective from February 28, 2017, the Coin product services will officially be shut down. As a result, support through the Coin website or through social media channels will no longer be available.

If you have a working Coin device, it will continue to work for the duration of the device’s battery life, which is two years from activation date. Please note that functionality will be reduced as a result of the February services shutdown.

For example, the Coin mobile app will no longer work once product services are shut down. Among other things, this means that you will not be able to add or change the cards that are stored on your Coin device.

Prior to February 28, we encourage all customers to sync over any cards so that they may continue to use them with their device.

Coins will also no longer be covered by or be eligible for warranty exchange as of today's date, 1/31/17. This includes Coin 2.0 upgrades.

Please check our FAQ list below for commonly asked questions.

We greatly appreciate our customers and thank you for your support through the years.

Sincerely,

The Coin Team

Blog FAQ

What will happen to my Coin after the service shutdown? Will my Coin still work?

Yes! Your Coin will still work. However, the Coin app will no longer be functional (and will not be available through the App Store or the Google Play store), so features like Auto-Unlock will not be available but can still be used standalone with your tap code. You can still use Coin with many merchants as long as Coin has battery.

What if my Coin stops working after 2/28/17?

Because of the service shut down, warranty and support for your Coin will no longer be available.

What will happen to my data after 2/28/17?

All data will be securely deleted from our servers, as they will no longer be running. The data that exists on your Coin will continue to be protected via your tap code, should you continue to use your Coin.

Is my Coin product still under warranty?

Because of the shutdown, warranty is no longer in force. For more information, please visit www.onlycoin.com/warranty.

How can I delete my account after the service shut down?

Please contact our support team with the email address associated with the Coin account you wish to have deleted and they’ll be happy to assist you.

I have not received my Coin yet, and need a refund.

All customers with unfulfilled orders were sent a Creditor Notice via email last year between July-December 2016. If you did not receive one and did not receive your order, please let our support team know.