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Fitbit acquires Coin’s payment platform; no more Coin smart cards coming

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Fitbit acquires Coin’s payment platform; no more Coin smart cards coming

Fitbit has introduced it has obtained each the payment platform and key workforce from the "smart card" corporate Coin. The precise monetary phrases of the deal, which used to be finished on Would possibly 12, weren't disclosed.

Fitbit stated:

Whilst there are no plans to combine Coin's wearable bills generation into the 2016 Fitbit product roadmap, the purchase hurries up Fitbit's skill to increase an lively NFC payment answer that may be embedded into long run Fitbit units, broadening its smart functions.

In a separate blog post Coin said that it is going to no longer promote any of its smart payment merchandise. Individuals who already personal them can proceed to make use of them "in the course of its lifetime". It added:

Coin smart payment units will nonetheless mix your credit score, debit and present cards. All product options will proceed to serve as, excluding Coin Rewards, which is getting retired.

Coin first introduced its "smart card" designed to switch all of an individual's credit score and debit cards, a number of years in the past, After a number of delays, it all started delivery a restricted choice of the ones cards in April 2015.

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