Of smart cards & smart wallets!
This past week I was awestruck by a campaign on Indiegogo (It's a crowd funding platform) for a product known as the 'Stratos Card'. They claimed that it could 'Consolidate your wallet' by adding all of my cards - credit, debit, loyalty, gift, and membership into Stratos. I was appeased by this concept and with the knowledge that I could finally leave those dozen cards back home especially, since I haven't handled cash for months (Thank you credit cards with rewards). But soon enough, and weirdly before I pre-ordered it, I was pummelled with curiosity regarding other competitive products in the market which I could straight-up purchase without having to pre-order. After hours of research, I was sadder (since all of the products are on pre-order only) but wiser having found have a dozen such products. Sadly, I didn't come across a peerless satisfying comparison and with the knowledge I gained, I aim to do so myself.
Note: You can also directly skip to my verdict at the end of this page.
The options available to mankind to 'thin down the wallet' are as follows:
1. Stratos Card
Image Courtesy: Stratos inc.
How it works: All of your current credit card information is stored in a corresponding mobile app and transmitted to your Stratos Card when you go to pay. When you receive the card in the mail, it comes with a card reader that plugs into a phone's headphone jack. Swiping a traditional credit card, debit card or gift card through the reader will load that card's information in the app. There's no limit to the number of cards that can be saved to the app, but the Stratos Card holds only three cards for quick access. Three touch-sensors on the front of the card correspond to each quick access card, allowing you to choose which one you want to use with a few taps.If you're not using one of those three cards, Stratos requires a Bluetooth connection to your smartphone.
Design: The Stratos Card looks like a traditional credit card, but it is as thin and light as a business card. It also has a slick and clean design. Printed on the front is the logo, owner's name and the number of the Stratos Card (not your actual credit card number). The three touch-sensors are placed near the right edge.On the back, magnetic stripes run across the top, just like a regular credit card. There's a signature stripe on the back as well. The blinking LED's are what sets it apart from other competitors.
NFC Chip: NO (Maybe in the future; You need this is you live in or are travelling to the European Union)
Left Behind Alert: Yes
Card Suggestions: Yes (location based)
Displays Credit Card information: No (Note, some business need to enter the card Number manually, may be problematic with this. Also, how would you enter numbers online? Maybe via your phone!)
Battery Backup: No information(They however will send you a replacement free of cost whenever you run low on battery, automatically!)
Cost: $95 per year, or $145 for a two-year upfront membership.
Estimated Delivery: September 2015 (August 2015 is for those who already ordered so far!)
2. Plastc CARD
Image Courtesy: Plastc
How it works: Similarly to stratos, all of your cards are stored in a corresponding mobile app and transmitted to your Plastc Card when you go to pay. There's no limit to the number of cards that can be saved to the app and upto eight cards can be stored on the device for quick access. It has an E-ink touchscreen (which is the reason I wanted to buy this one) which lets you choose between the different card categories such as Credit Cards, Debits Cards, Membership Cards and Gift Cards a submenu of which let's you choose the cards you want.
Design: The Plastc Card does not look like any traditional credit or smart card due to it's slick screen. Printed on the front is the card's name, a chip towards the left and the E-ink touchscreen. On the back, magnetic stripes run across the top, just like a regular credit card. There's a signature stripe on the back as well. The blinking LED's are what sets it apart from other competitors.
NFC Chip: Yes, but needs a software update (To be released)
Left Behind Alert: Yes
Card Suggestions: No (Since they don't talk about it anywhere!)
Displays Credit Card information: Yes (Note, some business need to enter the card Number manually, so this is good; also great to enter information online!)
Battery Backup: 30 Days(Wirelessly rechargeable)
Cost: $155 includes free shipping.
Estimated Delivery: Summer 2015 (Say, July atleast!)
3. Coin
Image Courtesy: Coin, Inc.
How it works: Similarly to all previous products, all of your cards are stored in a corresponding mobile app and transmitted to your Coin when you go to pay. Upto eight cards can be stored on the device for quick access. It has an E-ink screen (Not a touchscreen like Plastc) and a button which lets you rotate among your cards and choose the card you want. The screen only displays the last four digit of your card and the expiry which is good for use in stores but online? Duh!
Design: The Coin is designed vertically like the Chase Slate (I am a hardcore lover of Chase Bank and it's services) and so does not look like any other smart card. Printed on the front is the card's name towards the bottom, a button towards the right center and the E-ink screen on the top right. On the back, besides the magnetic stripe , there's a signature stripe and the cardholders name on the back.
NFC Chip: No (I doubt they'll have one anytime soon)
Left Behind Alert: Yes
Card Suggestions: No (Since they also don't talk about it anywhere!)
Displays Credit Card information: Yes (Only last four digits of credit cards, so safe to use in stores)
Battery Backup: 2 years (Woah!)
Cost: $117.50 (include $8.00 for shipping and $9.50 towards sales tax, seriously?).
Estimated Delivery: Summer 2015 (Say, June atleast!)
4. Swyp
Image Courtesy: Swyp
How it works: Similarly to all previous products, all of your cards are stored in a corresponding mobile app and blah blah blah... Upto Twenty five(That's a lot!) cards can be stored on the device for quick access. It has an screen (Not a touchscreen like Plastc) and three buttons which let you choose the card you want. The screen only displays the all digits of your card and the expiry along with the cvv number which is good for use in stores and online? one cool feature is that you can share gift cards with other friends using Swyp and also that it lets you snap and store pictures of receipts (Why would you do that?).
Design: The Swyp has a bit of a premium look. Printed on the front is the card's logo towards the top right, three tactile buttons towards the right bottom and a graphic screen (wonder what that means?) on the bottom left. On the back, besides the magnetic stripe , there's a signature stripe and the cardholders name on the back. And, drum roll it's made up of a metal!
NFC Chip: No (Will get it 'over time')
Left Behind Alert: Yes (Can be unlocked and used without phone, though)
Card Suggestions: Yes (Predictive Learning, sweet!)
Displays Credit Card information: Yes (All information you'll ever need)
Battery Backup: 2 years (Woah again, and it's rechargeable!)
Cost: $99.00 (May increase for pre-orders now!).
Estimated Delivery: Batch 2 Pre-orders start Summer 2015 (For delivery, let's say, October at least!)
Image Courtesy: Walla.by
How it works: Walla.by is my favourite service/ app to decide what credit card I should be using at a particular merchant's to maximize by rewards. So far, it is the best among all it's competitors. The card just aims to extend this service. No need of an app to decide, the card decides automatically what credit card to use. It makes use of a cloud to obtain all revolving/ rotating categories of rewards and helps you maximize them based on your preferences.
Design: The Wallaby Card has a traditional credit card look. Printed on the front is the card's logo towards the top right, and other information such as on any credit/ debit card. I do believe that a card number and expiry will be a virtual one as an interface between your actual cards(Could be interesting since a lot of virtual credit cards do this but fail to get you rewards on categories). I doubt this can use gift cards and other cards apart from credit cards.
NFC Chip: No (Don't see it in the images)
Left Behind Alert: No (Information not available)
Card Suggestions: Yes (Cloud Predictions; possibly the best)
Displays Credit Card information: No (has a static number, possibly generated by Wallaby)
Battery Backup: NA (Information not available)
Cost: No word.
Estimated Delivery: Pre Pre-order stage for now.
Image Courtesy: Wocket
How it works: Unlike all previous products (yay, something different), all of your cards are stored in the wallet. It has a removable smart card and the wallet has a nice LCD touch screen ( touch only on the wallet and not on the card). The wallet stores and lets you choose the card you want following which you withdraw the smart card and swipe it as per your selection. I like the fact that it is not dependent on your phone. I would however choose a card to go with my phone since I carry my phone everywhere where I'd carry my card. Also, what if I want to get rid of the wallet in the first place? It can unlock with voice match (uh, oh recorders) and using a PIN which may be a lengthy process when on a counter with all those grumpy people behind you.
Design: The Wocket is a leather wallet. You can accessorize it. Printed on the front is the card's logo towards the top and the card holder's name on bottom left. On the back, besides the magnetic stripe, there's a signature stripe and a screen. A good feature is that you can use it to make payments online.
NFC Chip: No (The site does not talk about it at all!)
Left Behind Alert: No (Standalone!)
Card Suggestions: No (Manually need to choose!)
Displays Credit Card information: Yes (In the wallet's screen)
Battery Backup: 1 year (Rechargeable!)
Cost: $149.99 (Need an invite to pre-order).
Estimated Delivery: Last official update said Early 2015 (A little late already?)
>> The Bottom Line
Based on all the above recollections, Swyp and Plastc Card come out on top of which, Swyp clearly takes a lead due to the metallic finish, a screen, long battery life, rechargeability and predictive suggestions. This all comes at a very reasonable price seeing that Plastc is a little on the higher spectrum end of all price ranges. If you are excited and cannot wait, go for Plastc or else, Swyp is a winner all the way (That is if they deliver all they promise, which I hope).
Note to the readers: This is my honest/ unbiased review based on other reviews, press releases and careful study of all the material available on all products. All information is true upto this given time of publication. **