Australia here, definitely wouldn't catch on (IMHO). Nearly everyone I know just has 1 major card, their primary bank card, which works as a debit and credit card in 1. Some people (like myself) have a 2nd card, a credit card for major purchases, that has better interest rates etc, but that one isn't used as much.
Most the other cards we carry aren't bank cards, they're Medicare (if we get hurt), drivers license / ID, and RFID cards to get into work or your apartment building (I have 2 of them)... and all these cards, these "one card" startups can't replace.
Unless they can replace my entire wallet with a single card, that works as a drivers license, medicare, debit/credit card, and RFID card for my house, then you're not really offering anything special.
Australia is a regulated market that abolishes the high interchange fees that power the reward programs in the U.S. This is specifically for the U.S. market.
> Australia is a regulated market that abolishes the high interchange fees that power the reward programs in the U.S. This is specifically for the U.S. market.
Another Aussie here, and I could maybe be interested. I typically carry at least 3 cards on me: credit card, AmEx, separate bank keycard / debit card, plus coffee loyalty cards. I can't always remember if a store takes AmEx (high Frequent Flyer point earnings), or if they do take AmEx but impose a 3% surcharge (negates the FF points benefit). It would be nice to have just one card, that automatically knows the best card to use at each store.
But without support for PayWave / PayPass / Chip & PIN, it's DOA in Australia. I want a card I can use when traveling to Europe as well (requires Chip & PIN). And Coin has a sleeker Uber-esque look to it as well - that rainbow on the Wallaby card doesn't exactly say "luxury" or "exclusive". (Not that it has to be, but it'd be nicer to drop a black / carbon card as an early adopter, not a plastic thingy called "wallaby" with a rainbow.)
Most the other cards we carry aren't bank cards, they're Medicare (if we get hurt), drivers license / ID, and RFID cards to get into work or your apartment building (I have 2 of them)... and all these cards, these "one card" startups can't replace.
Unless they can replace my entire wallet with a single card, that works as a drivers license, medicare, debit/credit card, and RFID card for my house, then you're not really offering anything special.