PaySpace Magazine Global has revised the best models of both budget and luxury NFC rings in the market. They may substitute your wallet, a travel pass, access badges, and even your home or car keys
The latest research on the smart rings market predicts a healthy growth of the given technology. One of the main reasons is a boom in contactless payments propelled by the pandemic. Namely, the global market for smart rings is projected to reach US$12.6 Million by 2027.
Compared to US$3.4 Million in the year 2020, it is expected to grow at a CAGR of 20.8% over the prediction period. Although Bluetooth-based smart rings are forecast to continue taking the lion’s share of the market volume, the NFC-based smart rings segment is projected to grow much faster – at a 25.1% CAGR.
Colmo Model 3
The Amazon bestseller – Colmo Model 3 – is the most useful accessory for all Tesla Model 3 owners. If you have such a car, you should definitely consider buying the ring too. Instead of fumbling with the car keys, you would simply wave your hand over your Tesla and the Colmo smart ring will automatically unlock your car. By default, this Zirconia ceramic ring comes with a Tesla logo. However, you can engrave names, different logos, and anything you want on the ring if you wish to customize it while placing the order. The price is about $130.
This NFC ring also has in-built IC and ID modules that can replace four different contactless access or discount cards. The owner can program the ring to perform various additional tasks such as unlock the smartphone, turn on Wi-Fi, make an emergency call, trigger preset calls or notifications, open the dedicated notepad on your phone, pay for public transport, get access to the cloud service and share cloud information. Built-in cloud services can be accessed without an app both via Android and iOS. The ring is very practical, being both waterproof and dustproof, and it also needs no charging. Jakcom R4 is a budget version, with a cost of about $20.
K Ring is a contactless payment ring tied to a virtual prepaid Mastercard account. Funds can be loaded via direct bank transfers, as well as using debit or credit cards. It is available in the UK, the Netherlands, Spain, German, Belgium, Ireland, and Nordic countries. K Wearables has direct partnerships with particular European banks, but the NFC service smoothly works abroad at approximately 6 million retail outlets with Mastercard contactless payment-enabled terminals. If you happen to be in London, K Ring also lets you access the public transportation network. K Ring doesn’t have to be paired with a smartphone to make payments. It is a passive NFC-based device that needs no charging. The accessory comes in a number of color combinations and is waterproof. The price of this ring is £100.
NFC Ring OMNI
This ring has been developed specifically for programmers and experimenters. It contains an Infineon SLE78 cache-based security controller with Java Card OS and Globalplatform. Java Card open platform for enterprise applications allows you to load custom applications as a developer without compromising security. Encrypted CPU with Infineon’s INTEGRITY GUARD security uses secure SOLID-Flash-based memory that improves transaction times. These rings come preloaded with a simple NDEF applet containing a website link to the setup tutorial which requires Java skills. OMNI is not payment-enabled, as it is a special edition for developers. It costs £70.
Russian company PayRing has partnered with local banks to create a specific fintech product. Basically, this device is a bank card in the form of a ring. You can make both contactless payments with PayRing or pay online, with a device identification number and a special code. PayRings contain personal information about their owners, such as contact info, medical, social, and payment information. Besides the payment function, the device can be programmed to serve as an electronic key to keyless ID locks.
You can also check our previous selection of the earlier NFC ring models.