Earlier this year, the first version of Coin began shipping out to those who had backed or pre-ordered the universal credit card. The device, which has faced numerous delays after being successfully crowdfunded in 2013, promised to streamline your wallet by supporting multiple credit, debit and loyalty cards, all managed through the Coin app on your smartphone.

While Coin might sound like a great idea at first, there have been a number of issues with the first-generation product, including poor performance and simply not working as advertised. To resolve some of these issues, Coin has launched a new version of its universal card that promises to be more reliable, while also adding in new features.

Coin 2.0 is slimmer than its predecessor at just 0.8mm, and still features the same display and button for viewing and selecting the cards it contains. To improve performance and reliability, the new Coin uses refined sensors that are less prone to failure due to fluctuations in temperature and humidity.

Arguably the biggest new feature in Coin 2.0 is NFC, which allows the universal credit card to make contactless payments. It's not clear which cards Coin 2.0 will support for NFC payments, but the functionality is there nonetheless.

For those that already have a first-generation Coin, the company will be sending out the new version for free, although not everyone will get a Coin 2.0 until the first quarter of next year. If you haven't purchased a Coin already, Coin 2.0 will retail for around $100.

Coin is an interesting product, especially now that it's more reliable and features NFC, but it faces an uphill battle to displace smartphones as the future of payments. Apple Pay is already here, while Android Pay and Samsung Pay are just around the corner, and all look to be even more convenient than Coin's universal credit card.