The days of carrying large amounts of cash in hand for everything from household items to traveling abroad are gradually disappearing. From debit card, credit card payment, now we are doing online payment in G Pay, Phone Pay, Paytm etc.
Also sometimes theft happens and sometimes we forget to carry our smartphones and debit cards. In order to avoid all such problems in the future, the smart ring will soon be launched in India. What’s so special about it? Let’s learn about it here.
Smart Swipe Ring…McLEAR is a distributor of PayrNet Limited. It is an electronic money institution authorized by the FCA under the Electronic Money Regulations 2011 (EMR’s). It has been introduced in London for the first time and is trying to introduce it in India.. If this becomes practical you will no longer need to carry debit and credit cards with you. All you have to do is swipe the card to show the ring you are wearing and you can pay for any shopping you do.
How does Smart Swipe Ring (McLear’s Ring) work?.. McLear’s Ring works on RFID technology. It uses a smartphone app to map your credit or debit card data to Ring. A ring using this technology does not need to be charged. The RingPay companion app allows users to track spending. This ring will also contain information such as what type of card you have.
Since this ring is made of zirconia ceramic, it will not hurt you even if you wear it for a long time and even for days. You can use this new technology ring which is made in water proof method for all jobs. You will not get any irritation. And the company claims that you won’t experience any scratching or pressure when you use this ring.
Thus, this smart swipe ring with new technology is not officially available in India. However if a Londoner already has an active RingPay with their VISA or Mastercard you can easily transact in India.
Daniel Blondell, Chief Operating Officer, McLear, said, “Transcorp has announced that you can opt for the ruby version of the smart swipe ring using McLear in India. Transcorp has already partnered with Junio App and RuPay to enable transactions through RingPay.
And we are working very hard to make this ring available in India,” said Blondel. If you find that your ring is being misused, you can immediately disable it from the SportPhone app.
Thus new technologies have been incorporated in this ring. However, we can definitely expect these features to be used in wedding and engagement rings soon.
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