In reply to TotallyNotGlenn.

Most merchants will support EMV by the end of the year. Once they have EMV fully-enabled, you will not be able to use the magnetic stripe from an EMV card... there are already small merchants that have EMV fully enabled and whose systems will not allow a swipe of a chip card (this is a crucial security function, otherwise fraudsters would just skim the chip card's magnetic stripe and use that). Chase actually is issuing chip debit cards, they're the third bank I know of to do so (after Schwab and Bank of America). Chip credit cards are much further along than debit cards.

And for non-fully chip enabled merchants (a vast, but slightly decreasing, majority in the US), Coin still has a "gotcha" - it only provides Track 2, not Track 1. Thus, many systems refuse it for that!

Will Coin work many places? Sure. Even after the liability shift, there will be many magnetic stripe-only cards out there still, and there will be many merchants that aren't chip-enabled. The thing is - it doesn't need to work "many" places to replace all your cards. It needs to work essentially everywhere. And today, it won't work at any merchant that requires Track 1, and it won't work at any fully chip-enabled merchant if the card you put on the Coin is a chip card (in my wallet, that's 10 chip cards and one non-chip card...). Thus, it's worthless. Not because it won't work a lot of places - but because "a lot" isn't even remotely close to enough for a product like this.