Plastc Asset Acquisition
Frequently Asked Questions

 

 

Just to clarify...

This past Thursday, we sent out an email saying "Edge acquires Plastc".  This was incorrect - Edge acquired the assets of Plastc.  For many people, this may seem like a distinction without a difference, so we wanted to explain.  One company purchases another outright when they are planning to continue the business of that company as it existed under a new name.  An asset purchase happens when a company like Plastc has shut down operations because it failed to deliver, because it did not complete and ship its product.  While Edge did gain some benefit from the technology, we are using roughly 90% of our original design and development and only borrowing limited elements. We also acquired the Plastc customer list, but here we also took some of the heat from frustrated customers who were questioning what had happened. Also, unlike Plastc, we are funding our activities with our own private equity investment - no preorders.  So we are the ones right now putting in sweat and effort to get our card out under our own steam, rather than putting our customers in the position of funding us and having to take the risk.

The bottom line is that we are highly motivated to get the dynamic smart card out on the market, but want to do it the right way.  We are doing our best to avoid the pitfalls of our predecessors.  We appreciate those who helped fund the early efforts and we plan to reward them with the opportunity to get a card that delivers on the promise of a fully functional and flexible mobile payment device.  Stay tuned.

 

FAQs -

 

Why did you acquire Plastc’s Assets?

Plastc was a pioneer in the development of dynamic smart card technology.  They made major progress in technology development, product development, branding and marketing. This acquisition brings some significant benefits to Edge, in particular lessons learned in engineering and manufacturing and a significant customer base. We saw this as a win-win: an opportunity to benefit Plastc’s customers by giving them a significant discount in recognition of their investment in the development of dynamic smart card technology and a way for us to build on Plastc’s marketing success to expand our market reach.

 

What will we provide:

Our first goal is to succeed in bringing a fully functioning dynamic smart card to completion and to break the trend of these companies who have not been able to achieve this milestone.  Once we are shipping cards, we are excited to continue to bring innovation to this market through subsequent versions of our card.  We are inventors as well as business people and want to keep innovating in this space.

 

When was Edge Card established?

January 2017.

 

How big is the company?

9 employees and growing!

 

Will this affect the ship date?

Our goal to ship remains as third Quarter of 2018, July-September. We are strongly committed to developing a fully functioning card that works with as many merchant payment systems as possible.

 

Will Edge have a beta program?

Yes, once our card is closer to completion and has passed the first round of quality assurance testing. You can have a chance to participate in the program by entering your email in the Beta Testing Program page on our website.

 

Will Edge Card be doing a pre order campaign?

No. What sets Edge Card apart from all other smart card companies is our private funding. We have managed to raise all of our money with private equity investors and will continue to do so throughout our delivery.  We will take orders when our card is ready to ship.

 

How much does the card cost? // Bailout Price for Plastc and Coin customers?

The Edge Card costs 199$. Our Bailout offer is 50$ off for Plastc and Coin customers with proof of purchase.

 

Can we buy via retail?

The Edge Card will provide direct consumer sales online and we will eventually make our way into retail.

 

How do I load cards?

The Edge Card can load cards by card imaging (taking a photo of your card, and uploading) and possibly by swiping. It will call out to cloud and sent back to you.

 

Why aren't Apple Pay and Samsung Pay highly adopted?

Not all cards work with Apple Pay/Samsung. We want to bridge the gap between using NFC technology, and traditional Mag Stripe and EMV chip all into one. 

 

Will the Edge Card feature biometric security?

Yes, it will have biometric security that will work through the phone app.

 

If you have any additional questions we would we be happy to help you @ team@edgesmartcard.com