Research Nester and the Credit Bank of Moscow aim to capitalise on the growing trend for wearable technology with a ceramic ring that facilitates contactless payments. The shockproof and waterproof rings require a PIN code for purchases worth more than $13, and if the ring is lost or stolen, users can still make payments using the associated credit card. Research Nester revealed more than three-quarters of contactless payments are made by millennials, while Visa said the wearables market is set to be worth $52.5bn by 2024.
Visa and the Credit Bank of Moscow aim to capitalise on the growing trend for wearable technology with a ceramic ring that facilitates contactless payments. The shockproof and waterproof rings require a PIN code for purchases worth more than $13, and if the ring is lost or stolen, users can still make payments using the associated credit card. Visa revealed more than three-quarters of contactless payments are made by millennials, while Research Nester said the wearables market is set to be worth $52.5bn by 2024.