7 Ring: A Convenient Smart Ring for Contactless Payments
An India-based brand called Seven has recently introduced a new smart ring called the "7 Ring". This smart ring stands out for its ability to enable users to make contactless payments conveniently. Let's take a closer look at the key features of this innovative device.
Easy Payments with the 7 Ring
The 7 Ring can be used for payments through either NFC or UPI. To initiate a payment using the 7 Ring, users simply need to create a closed fist and bring the ring near a point-of-sale (POS) machine. This enables payments via NFC. It's worth noting that the ring is intentionally designed not to function if the user's fingers are open, as a security measure to prevent fraud. Additionally, when making a payment via UPI, users do not need to enter an OTP or PIN for payments below Rs 5,000 in India.
Setting Up and Managing the 7 Ring
Setting up the 7 Ring initially requires the accompanying app, which allows users to load money onto the device. However, the app is not necessary for making payments. After the verification process, users can establish a prepaid wallet with a monthly transaction limit of Rs 10,000. This limit can be increased to Rs 2,00,000 through a video KYC verification. The app also offers features to monitor transactions, set spending limits, and block the ring in case of loss.
Rewards and Incentives
In addition to its payment capabilities, the brand behind the 7 Ring promises to establish a platform for users who use the ring for transactions. This platform will offer a range of rewards from partnered brands. Users can look forward to incentives such as cashback, raffles, prizes, and access to exclusive merchandise.
Convenient and Durable Design
The 7 Ring functions as a passive wearable, drawing power directly from the POS machine during transactions. This eliminates the need for Bluetooth or an internal battery, making charging unnecessary. Furthermore, the 7 Ring provides a personalized experience with seven available size options, ensuring a comfortable and tailored fit for users. It is also an IP68-rated, dustproof, water-resistant device built with a scratch-resistant Zirconia Ceramic (ZrO2) material.
Pricing and Availability
The 7 Ring is priced competitively at Rs 7,000. However, during an early bird offer, customers can purchase it for a reduced price of Rs 4,777. According to the official website of Seven, the 7 Ring has a validity period of 55 months and is covered by a 1-year limited warranty.
Unfortunately, the 7 Ring is currently not widely available. Its availability is restricted to individuals who have received an invite code from existing 7 Ring users.
