Coin flips: Beta testers won't have to pay for the final product

Only a day after announcing that the finished product would be delayed from this summer to next spring, Coin has some good news for backers who pre-ordered the credit card replacement device last fall. 

Coin will extend its beta program to 15,000 backers from the 10,000 backers it initially announced on Friday, according to an email sent to backers on Saturday afternoon.

But that’s not all. While Friday’s announcement stated that backers could opt into the Coin Beta program and afterward receive the finalized Coin product for $30, Saturday’s Coin letter states that the upgrade from the Coin Beta product to the finalized device will be free.

Coin’s says its device is on track to perform well:

We have achieved ~0.84 mm form factor with e-ink screen and Bluetooth low energy.  We even found a button that has a tactile touch so you can feel feedback every time you press the button on Coin.  Coin swipes successfully in 85% of the locations we visit.  Our hardware team is focused on the remaining 15%.

On top of these changes, Coin promised even more transparency to backers alongside a dedicated web location designed to collect backer feedback surrounding the delay issue.

There’s no doubt that most backers will welcome Coin’s changes to the delay and beta pricing issues. With regard to the feedback page we can’t help but feel that in addition to helping Coin collate and process all of the complaints, the ability to drive users there will alleviate public complaints that they would have otherwise posted publicly on social media networks.

If the Coin Beta program rolls out on time (Fall 2014), backers will get a chance to slim their wallets this year rather than having to wait six additional months to get their hands on the device. Coin’s beta hardware won’t have all of the bells and whistles that the final product has promised, but with feedback from 15,000 or more backers to use as a guide, there’s a chance that the final product may actually exceed most users original expectations.

You can read Coin’s apology letter to backers here. The password is “letter.”