Intesa Sanpaolo is revolutionizing the payment space with the launch of a cutting-edge wearable payment ring, allowing customers seamless tap-and-pay functionality at checkout. Developed in collaboration with Mastercard and crafted by Swedish fintech Tapster, this innovative ring is constructed from shockproof wood and ceramic, ensuring durability and style.
The ring operates without the need for battery charging or an internet connection, leveraging an integrated NFC chip for straightforward actions like credit card payments. Intesa Sanpaolo prioritizes security, shipping the wearable in an inactive state accompanied by a QR code for exclusive activation by the cardholder.
"To pay for the purchases in contactless mode, it is necessary to simply bring the ring close to the POS, just like for payments via physical cards or smartphones," said the bank in a statement.
Bank-Enabled Payment Rings
Intesa Sanpaolo is Introducing a New Contactless Payment Ring
Trend Themes
1. Wearable Payment Rings - Intesa Sanpaolo introduces a contactless payment ring for seamless tap-and-pay functionality at checkout.
2. Shockproof Materials - The payment ring is constructed from shockproof wood and ceramic, ensuring durability and style.
3. NFC Technology - The ring leverages an integrated NFC chip for straightforward credit card payments without the need for battery charging or an internet connection.
Industry Implications
1. Banking - Intesa Sanpaolo revolutionizes the payment space with the launch of a wearable payment ring.
2. Fintech - Swedish fintech Tapster collaborates with Intesa Sanpaolo on the development of the innovative payment ring.
3. Contactless Payments - The payment ring offers customers a seamless tap-and-pay experience at checkout, providing a new way to make secure payments.