A new chapter in wearable technology has begun with the launch of Ring One, a smart ring that combines health tracking and contactless payments. Developed by Muse Wearables, an IIT-Madras-incubated startup, this innovation enables users to make secure payments by simply tapping their ring—no phone, card, or wallet needed.
How Ring One Enables Payments
Ring One uses advanced tokenisation technology to ensure secure transactions,
- Users link their RuPay debit or credit card through the Muse Apps
- A unique token is generated by the Muse Wallet platform and securely stored in a Secure Element (SE) chip inside the ring.
- During a transaction, users simply tap the ring on an NFC terminal, and the SE chip authenticates and processes the payment—without revealing the actual card number.
- The payment feature works only when the ring is worn. If removed, the system automatically deactivates payments.
- If lost or stolen, the token stored in the ring remains inactive unless re-authenticated by the user.
This high-level security infrastructure ensures the ring operates at par with bank-grade and passport-grade protection, isolating sensitive data from phone systems and apps.
Additional Features and Global Reach
- Besides enabling tap-to-pay transactions, Ring One also tracks health metrics, making it a multifunctional wearable.
- The ring is already available in over 40 countries and supports cards from nearly 600 banks, demonstrating strong global compatibility.
- Muse Wearables emphasizes that the ring is built on India’s first Secure Element Tokenisation Platform, reinforcing its aim to offer a sovereign digital wallet ecosystem that rivals global tech giants.
Important Static Takeaways
- Product: Ring One
- Developer: Muse Wearables (IIT-Madras incubated)
- Partner: NPCI (National Payments Corporation of India)
- Network: RuPay (credit and debit cards)
- Security chip: Secure Element (SE) with tokenisation
- Availability: 40+ countries, ~600 banks supported
ShivamAs a Content Executive Writer at Adda247, I am dedicated to helping students stay ahead in their competitive exam preparation by providing clear, engaging, and insightful coverage of both major and minor current affairs. With a keen focus on trends and developments that can be crucial for exams, researches and presents daily news in a way that equips aspirants with the knowledge and confidence they need to excel. Through well-crafted content, Its my duty to ensures that learners remain informed, prepared, and ready to tackle any current affairs-related questions in their exams.