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Smart rings to power cashless payments

Keys are starting to be replaced by functional jewelry like rings to replace products like wallets and keys, at least for a Japanese Health company called MTG Co.


Over the last 10 years the security and payments industry has changed dramatically. Gone are the days that keys are used for cars, and even cash for payments. Companies rushed to adopt finger and eye encrypted security payments but that has failed to catch on a large scale.\


Enter smart rings and smart jewelry. More from Bloomberg...


"MTG Co., a Japanese health and beauty company, has started selling the “Evering,” which it envisions as a one-stop digital wallet. The chip-embedded ring, made out of zirconia, the synthetic crystal that’s sometimes used in place of diamonds in jewelry, lets people lock their door as they step out for a run as well as pay for drinks in stores."


What about the functionality and cost of the smart ring? Seems to be highly functionable with a reasonable cost...


"Evering users make payments by holding it over a payment terminal. Priced initially at 19,800 yen ($182) in Japan, the ring, which is waterproof and doesn’t require charging, is linked to a credit card and payment histories can be accessed via smartphones."


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