Coin could be stymied by Amazon patent - report

Coin could be stymied by Amazon patent – report

28 JAN 2014

Start-up Coin, which attracted a lot of interest last November with its plan for a single card that stores information from multiple credit, debit and loyalty card, has hit a potential snag: Amazon might have a similar plan, according to Re/code.

It has emerged that Amazon applied for a patent for its own card, which sounds a lot like Coin’s, back in 2012.

The online shopping giant describes its potential product as a “dynamic payment card” that is “programmable by a user in order to access one or more accounts from multiple financial institutions and/or other institutions … For example, the payment card may correspond to a credit card, a debit card, a gift card, and/or other card. In one embodiment, the payment card includes an account selection application that facilitates selection of one of the transaction accounts associated with the payment card.”

The Amazon patent application was then published online in September 2013 but has only subsequently come to light. Coin’s own device is scheduled for pre-order delivery this summer. There is no news on when Amazon’s proposal might leave the drawing board.

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Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

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