The payment startup made headlines last Thursday upon launch with a $50,000 crowdfunding campaign to produce the card, and on Wednesday said it hit that goal in 40 minutes. Coin is also still pre-selling the $100 card, which it plans to start shipping next summer, at a 50 percent discount.
The card’s new features—which no one can test until Coin actually ships—include an alarm that alerts you when someone is fraudulently using one of your cards when Coin is in your possession, and a locking mechanism so Coin can be tied to a specific card.
The company said that Coin, which is designed to be compatible with your smartphone, can be used without one. You need a smartphone to upload your cards to the Coin app, and the card also relies on a phone for its security features, like alerts when you stray too far from the card. But if your phone dies or you lose it, you can unlock the card directly. Coin only has one button, so your passkey will have to be a Morse code type of situation.
Coin built out its FAQ with answers to more questions you might have about the card, but no one will really know how well Coin works without using it—and a lot could happen by next summer.
This story, "Coin isn’t real yet, but the smart payment card is already adding features" was originally published by TechHive.