Preface
Alright, so now that I had time to watch some videos, read their privacy policy, explore their website and read some more articles I feel like I can make an educated critique on the FUZE card.
What I think is Nice
The convenience. While it may only have a 30 day battery life, as opposed to a regular card which requires no battery, it is able to hold a stack of 30 debit, credit, gift, membership, or OTP cards. That eliminates the need for large cumbersome wallets. While everyone may not have a large wallet, very many people do have multiple cards for various reasons. Saying, "Well, just don't have very many cards then", is not an acceptable response to the issue at hand; it is a cop-out response.
With every store and their dog wanting to get you to have a membership card this new layer of abstraction could help lighten the load of that very much. I myself have all my membership cards on my key-ring (if possible). Those that I don't I fit in my wallet for the most common places I go to, for the others I can't fit I just throw them away or store them in my desk at home; and then try to remember the phone number I used when I created an account.
The touch pad on the card itself which allows users to cycle through cards was pretty nifty.
What I think is Bad
Their website. On top of it being pretty bare their FAQ page gets a 503 error from their hosting company. Not to mention its hard to find more detailed information besides whats publicly available on their funding campaign.
There are two types of card, one with a chip ($$) and one without ($). It was unclear to my understanding if the one without the chip still has a mag strip or not. Mag strip by themselves, are the equivalent to your card information in clear text. In the USA, they are becoming less common but are still around on a lot of systems, kind of like Windows XP.
While on the note of security, the card implements the latest chip and NFC security, while I'm assuming only uses bluetooth to communicate with a smartphone. I am not aware of any bluetooth based payment methods. It was unclear if the information on the card itself which holds card information is encrypted or not.
It was also unclear if a smartphone is required to use the card. The software seems to just be a companion to the card but nothing explicitly stated this otherwise.
What I think they could do better
30 cards is a lot, however considering that mSD cards can hold 256 GiB and at the size of a pinkie-nail, I think they really could've sprung for more storage space.
Website needs work. See previous rant about their FAQ page.
Since only the front part of the chip needs to be inserted into the reader for a transaction to work, and how mag stips need to hurry up and die, it would make more since for a slim neck where the chip is, but a much thicker body (if only by a few millimeters) to have a more robust battery life (1 or 2 years?). Then I think the card would be much more viable as a product.
Conclusion
I think the cards security meets modern standards, but could still fall prey to the methods currently in use. That said, the card is nor more vulnerable than if your wallet was stolen.
I think the FUZE card is definitely onto something with trying to make a product that is convenient and effective for someone to use who falls into their use case (anyone with more than 5+ cards really).
I think that maybe a 3rd iteration is needed before I myself would get a card like this. One that addresses my battery life concern, smart phone dependency(?), and storage mechanisms (size and encryption(?)).
Their Indiegogo Campaign