NFCRing has rolled out its latest contactless ring equipped with a passive contactless antenna and a contactless security chip from Infineon Technologies that works like a contactless payment card.
Touted to be world’s first EMVCo compliant payment ring, the tiny, water-proof smart wearable can be used to pay by simply holding finger with the ring closely to any contactless-enabled payment terminal.
The ring without battery leverages NFC (Near Field Communication) technology to communicate data over short distances of a few centimetres.
Though its tiny passive antenna, the chip communicates with the terminal, triggers the secured payment and does cryptographic processing.
NFCRing COO Shelly Silverstein said: “The Infineon security chip is the only solution available on the market, that allowed us to realise the NFC payment ring while still meeting EMVCo’s toughest contactless performance requirements.
“NFC Ring users now have a secure and convenient, payment experience with a fashionable accessory in an attractive design.”
Infineon vice president and general manager of secure mobile & transaction business line Thomas Rosteck said: “Proximity payments based on NFC technology are clearly on the rise – and payment solutions with smart wearables will accelerate this trend with consumers not even having to reach into their pockets to pay.”