This was all inevitable, of course. Fitbit has made its plans for Coin clear since it bought the mobile payment company back in May of last year. At the time, the wearable maker announced that it was shutting down the Coin Developer Program, though cards would remain active until their batteries finally gave up the ghost.
The company has since announced via its blog that product services will be shut on February 28. Cards will still be usable until their end of their estimated two years of battery life, but the move will hamper functionality in a number of key ways. The mobile app won’t work anymore, for one, so users won’t be able to add new credit cards or change their existing ones.
According to the company,
All data will be securely deleted from our servers, as they will no longer be running. The data that exists on your Coin will continue to be protected via your tap code, should you continue to use your Coin.
Today also marks the official end of warranty coverage on the device, so you’re stuck with the one you’ve got.
The shut down arrives as Fitbit confirms its plans to build a new smartwatch, announced in the wake of disappointing financials and layoffs. The Coin acquisition will play a role in the device, along with the recently acquired Pebble, which saw a similar fate toward the end of last year.