Coin delayed until Spring 2015, but a handicapped early access beta version is coming soon

Coin-beta-edition

Last week, the makers of Coin announced that they’d be emailing early backers this week, allowing them to claim their e-cards. Today, that email has arrived but it includes a few surprises we weren’t exactly expecting. Once the mobile apps have been released (iOS August 28th, Android September 25th), Coin backers will have the choice to either opt in for the beta version (launching as planned), or wait for the final 100% bug-free version which, as it turns out, has been delayed until Spring 2015.

Here’s what Coin said to backers after claiming their Coin from the email:

“We realize that our devoted Backers and early supporters are anxious to get their Coins and we understand the desire to finally have Coin in hand. However, we also recognize the desire for a product that is 100% successful and offers all the features we’ve been developing and promised.

When you download your Coin app, you’ll have the opportunity to opt-in for Coin Beta, or opt to stick it out and wait for Coin. As always, we are grateful for our community in helping us to revolutionize the way we pay. Let’s do this.”

Coin backers will receive their shipping dates only after downloading the required mobile app and choosing either the beta or final version. Keep in mind that although opting for the Coin Beta version gets you non-delayed access to Coin, you’ll still have to purchase the final version later (although at a discounted $30). For those looking to get their hands on Coin as soon as possible, here’s what you’ll have to sacrifice in the beta version:

  • 85% swipe acceptance
  • No Left-Behind Alert
  • Coin Beta users should carry a back up debit or credit card should they identify a machine that can’t yet accept Coin
  • Not available for international Backers (US only)

As we’ve seen so many times in the past with crowd-funding projects like this, unforeseen issues during the manufacturing process typically pop up out-of-the-blue and delay a product’s release, sometimes substantially. It appears Coin wasn’t immune to this and even if it shouldn’t come as a surprise, we have to admit — we’re a little disappointed.

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  • Jake

    I want my money back on my regular debit card. This is trash.

  • mcl630

    “…delayed until Sprint 2015.”

    What does Sprint have do with this? ;)

    • http://twitter.com/gamercore Chris Chavez

      Dag nabbits… *fixed

      • J Cav the Great

        Someone is considering Sprint’s new plan..lol

        • http://twitter.com/gamercore Chris Chavez

          If they can get LTE everywhere — and still have blazing fast 3G/HSPA+ where they don’t….. sure. Of course that’s never going to happen. Ha

  • jschu22

    Its not Chris’ fault- disappointment and Sprint typically aren’t far from each other.

  • Jurk

    Backers beware.

  • ljhughes8

    that why i like my loop.

  • King_James_The_Wicked

    Hero Today Villain Tomorrow…

  • FrnchDp

    Very poor execution on the part of Coin.. Up until today, there was no mention of a delay (and this after an official update just last week), or any mention of an expanded Beta program. Backers have been jumping at the bit to be beta testers for months now, and all Coin could say was “thank you, but we have plenty of testers already”.
    Last week’s mention that that App alone would be for Android users after the continuously repeated “Summer 2014″ release raised many eyebrows in the backer community, as well as concern over what it meant for the promised delivery.. Now we know why.

    By the time they release, if they do meet the new “Spring 2015″ date, will mean barely 6 months before the October 2015 switch for all credit cards..

  • mattpyles

    This isn’t ever going to happen. I wish it would, but the big card companies aren’t going to let it happen. i.e. Aereo

  • nicee

    Why not just use LoopPay? They’re a successful Kickstarter product. It stores your credit card magnetic signal when you swipe your card at a terminal and mimics the signal with their phone charge case and the key fob. It works great. Just pay with the phone (case) at 90% of all existing POS machines. Here’s a review: http://www.nicee.co/reviews/gadgets/peripherals/looppay/2014/06/chargecase