Coin has been running for two years, but continues to delay the product launch. With a track record of delays and a CEO that has no timeline for EMV, the 2015 deadline looks daunting.
On Friday, the startup said it's delaying its full product release until spring of 2015 while it refines the device and works out kinks in manufacturing. Instead, the company says it will ship what it's calling Coin beta, the latest iteration of the all-in-one card, to the first 10,000 pre-order customers who opt-in to the program. The pushed back shipping date is not Coin's only cause for concern. Complicating the company's roadmap is the absence of a specialized security microchip that is in the process of being adopted by the US credit card industry. When the consumer version of Coin launches next year, it will not contain such a chip. The company has said that it will only begin addressing that issue after its current product begins shipping next spring.