Coin
SUPER clever idea -- kudos for that.  In theory, this is awesome.  As a consumer, I love it.As a merchant, however (which I am), there is no chance I would accept this.  None.  Unless the issuers (that is, Visa, MC, Amex) drastically change their policies, which I don't see happening anytime soon.Why?  Because the issuers are very clear about a few things:  When push comes to shove and it REALLY gets down to it, unless the merchant takes a physical swipe of the actual card AND has backup to prove it (i.e. an imprint of the physical plastic), the issuers will side with a consumer in the event of a fraud dispute.So why, do you ask, do most merchants not bother taking imprints of the actual cards?  Because a visual verification and physical swipe is usually enough (for 99% of cases).  Instances of fraud via card duplication are rare, so it's usually not worth the hassle.  But in some cases, it is.My business runs large-ticket purchases though CCs (average is $2000), and we take super extra precautions when our customers buy from us.  We take magnetic swipes, visually verify, AND take physical imprints.We've lost several chargebacks because of lack of doing this.  You'd be surprised how these little-known rules crop up when you least expect them.  "Sorry, customer claims charge not authorized.  Merchant doesn't have physical imprint.  Chargeback approved."  It's happened and we've been defrauded out of $thousands because of it.The ONLY way we've been able to successful combat chargeback fraud is through the multi-layered approach.Anyway, I know this is a fairly esoteric perspective and my business may be different from lots of others where this isn't an issue, but I have a feeling V/MC/Amex aren't going to get behind this.