Here's A Way To Store All Your Credit Cards On One Device So You Don't Have To Carry Around A Fat Wallet

Loop FobLoopThis is the Loop Fob.

Last fall, a startup called Coin claimed it could slim down your wallet by combining all your credit cards into one, programmable “smart” card that it would release this summer.

A company called Loop wants to do one better.

Instead of a programmable card, Loop has created a chip that can store your debit, credit, and rewards card information. It can then embed that chip in any device, like a smartphone case or a watch.

Today, Loop is releasing its first product, a little dongle called the Loop Fob. You swipe all your cards into the fob, and organise them with the companion LoopWallet app. Throw the device in your pocket or attach it to your keychain and anytime you need to pay for something, just tap it against the merchant’s card reader. You can buy it for $US40.

Think that carrying around a colourful little dongle is be more inconvenient than just sticking with your usual, jam-packed wallet? Loop is also releasing an iPhone case that can store all your card information (and charge your phone) but it won’t be available until spring. You can pre-order it now for $US99.

Check out Loop’s demo vid:

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.