NFC Ring has made its payments ring available to order worldwide, enabling wearers to make purchases with the tap of a finger at any contactless terminal. The device is linked to the user’s debit card to fund transactions and includes a contactless security chip from Infineon.
“The tiny, waterproof smart wearable works like a contactless payment card,” NFC Ring says. “Users can pay by simply holding their finger with the ring close to any EMVCo contactless-enabled payment terminal.
“The chip communicates via its tiny passive antenna with the terminal, triggers the secured payment and does cryptographic processing.”
Since raising funds on Kickstarter for its payments ring in July 2013, the company has made “several new versions” of the ring, including its latest — payment enabled — device, the company’s chief operating officer Shelly Silverstein told NFC World.
“Our app controls the process of loading cash to the embedded debit card on the ring and can disable it at any time,” Silverstein explained. “NFC Ring is also in its final testing phase to be rolled out as a ticketing and venue access device, allowing venue owners greater control over purchasing on site. Demand is strong.”
Visa supplied athletes at this year’s Rio Olympic Games with an NFC Ring linked to their Visa account, allowing them to make purchases by tapping their hand against contactless terminals.
The devices retail at £39.99 (US$52.78) and are currently available to order from the company’s website.
Next: Visit the NFCW Expo to find new suppliers and solutions