Credit Card Firm Plastc Closes Operations, $9M In Pre-Orders Vanishes

HELLOOOOOOO! Has anyone seen Plastc? Or, better yet, the $9M investors put up? Seems that Plastc had a single card that could digitally hold up to 20 debit and credit cards which the user being able to switch between them. They raised over $9M with pre-orders and……………. vanished. No cards, no employees, no websites (social, media, etc) and no money. Just a thought; with the idea of putting ALL your debit/credit cards on just one card it would seem that would be really easy to steal/hack, right? But why wait? Just take the $9M upfront.  Good luck out there on the run guys.

(Bill Taylor, CEO)

“Plastc launched in 2014 with the promise of shipping a single card that could digitally hold 20 credit or debit cards that a user could switch between. The company raised more than $9 million through preorders, and today, after shipping to no backers, the company said it’s planning to file for bankruptcy and will shut down.

With that, all backers’ money is lost, and no Plastc cards will ship. Plastc announced the news on its website today along with the fact that all its employees have been laid off. Its customer care and social media channels have also been shut down.

The team writes that it’s, “disappointed and emotionally distraught, and while we know this is extremely disappointing for you, we want our backers to know that we did everything we could to make Plastc Card a reality…”

Source: CNBC