That’s right folks, in a world where it isn’t quite safe to carry loads of cash anymore, NFCRing Inc. along with Infineon Technologies AG have introduced what may just be the cleverest method of making payments for your lavish purchases at your local discount stores: a Visa-powered NFC ring.
The NFC ring was first made available to athletes that had taken part in the recent Rio 2016 Olympics. Although, it has since been made the NFC ring available for general consumers. The payment ring works similarly to that of a regular NFC-enabled smartphone. Simply put the device close enough to an NFC-compliant payment terminal and your payment will be successfully processed – like magic.
That said, folks at Engadget have found that the payment process using the NFC ring isn’t all that seamless. The ring has to be placed in a suitable angle for it to be found by the payment terminal. Regardless, it would be interesting to see how well the NFC ring would be accepted here in Malaysia, especially since the recent introduction of the Maybank Pay Mobile Payment service, which enables one’s NFC-equipped phone to be used with Visa PayWave terminals.
Pre-orders for the NFC ring has been opened and it comes with a price tag of £40 (about RM213). The estimated date of shipping is in December. So, if you simply have no time to dig out your wallet or whip out your phone to make payments: put a ring on it.