The idea was awesome: a single reprogrammable credit card with an e-ink display that stored up to 20 other credit cards. It was so awesome it raised $9 million in preorder sales—but now all those supporters are out of luck. In a note on its website, Plastc said it’s burned through all its cash and failed to secure additional funding, which means it will not be able to refund anyone who preordered the smartcard:
It’s been a long road with a lot of obstacles. The support of our amazing backers has been incredible, which makes this announcement even harder. We were so incredibly ready for production in order to hit our deadlines, but without capital it is impossible for us to move forward and we will not be able to fulfill any preorders.
We are 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.