The McLear Ring looks exactly like a jewellery which you can customise and wear on any of your fingers and simply tap on any contactless POS to make payments. So, instead of tapping your credit card on the POS unit, you will be tapping your ring to pay.

India to Offer ‘Smart Wedding Rings’ with Swipe Payment Feature

McLear has introduced a unique wedding ring in the UK that is not only attractive but also loaded with real cash. This innovative ring allows you to make payments by simply swiping it instead of using your credit card. The company, in partnership with Transcorp, is now planning to introduce this technology in India. The Ring uses RFID technology and a smartphone app to store the data of your credit or debit card, making payments hassle-free.

The McLear Ring looks exactly like a piece of jewelry that you can customize and wear on your fingers and tap any contactless point of sale to make payments. So instead of tapping your credit card at the POS unit, you pay with the tap of your finger.

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To make sure the Ring is safe and you don’t end up stuck in crowded places, you actually have to pay with a cash gesture. This negates the risk of anyone carrying a wireless POS terminal tapping your fingers to steal your money while you’re distracted.

The ring is not officially available in India, but if someone from the UK already has an active RingPay linked to a VISA or MasterCard, they can easily make payments in India. Daniel Blondell, Chief Operating Officer of McLear while interacting with ReturnByte Tech said, “Transcorp is McLear’s partner in India. You can pick up the RuPay version of Ring which works seamlessly in India.”

Transcorp has already partnered with Junio App and RuPay to enable payments with Ring Pay. “We are working really hard to make the ring available in India,” added Blondell.

Thanks to RFID technology, McLEAR’s Ring does not need to be charged at all. The RingPay companion app allows users to track spending, cashback earned and can be used to lock the device instantly. “If you lose Ring, you can disable it from the smartphone app,” he said.

The ring is made of “high-purity zirconia ceramic,” and the company claims it’s “highly scratch-resistant.” “It’s been tested to withstand breaking under all normal daily use – and it’s completely waterproof. The ring also doesn’t cause skin irritation due to its hypoallergenic properties,” claimed Blondell.

“We have been working with the National Payments Corporation of India (NPCI) for about five years. We were present at the Indian FinTech Festival last year and announced the launch of the first Ring in India with NPCI and Transcorp. The discussions are exciting and we hope to have them big in India soon,” he added.