Company News • 06.10.2015

Using jewellery instead of a smart phone to pay?

Startup develops first ring for contactless payment

Kerv wearers can make instant contactless payments of £30 or lower with a single gesture.

Source: Kerv

Paying just with a gesture – this is the promise of simplicity which is one of the big advantages of contactless payment using NFC technology. But there are some clever heads who think that there still is a simpler way to pay than using an app or an NFC card. The London-based Startup Kerv has therefore developed the first ring for contactless payment.

Philip Campbell, founder of Kerv is dissatisfied with the current state of technology on quite a few levels: „Currently, wearable payment devices are either eye-wateringly expensive or thoroughly unattractive. But the biggest issue I have is that they're all worn on the wrist, which has to be placed flat against the contactless reader in a way that feels extremely unnatural and awkward."

Simple handling of complex technology

Kerv's outer shell is engineered from zirconia ceramic, one of the most scratch-resistant materials on the planet.

Source: Kerv

The British Startup has racked their brains thinking about how to make both the payment process and the device used for it simpler and more convenient for the user. And they found a solution: Why not use a piece of jewellery like a ring, which is worn naturally and without thinking about it in everyday life?

Kerv wearers can make instant contactless payments of £30 or lower with a single gesture. And the technology which is used is not only optically invisible, because there is no card or PIN required. The ring also never needs to be recharged and doesn't need to be paired with a smartphone to work.

Other applications shall be possible

Philip Campbell: "Currently, wearable payment devices are either eye-wateringly expensive or thoroughly unattractive."

Source: Kerv

Beyond retail payments, the ring can also be used for payments in public transportation and for instant sharing of contact details at the tap of an NFC-enabled phone. The developers believe that technology like this will make it completely unnecessary to carry around things like wallets, cash or cards in the future.

As with all current applications for contactless mobile payment, the biggest issue here is the simple handling which will be crucial for the project’s success with the end customer. In fact, the ring is not able to do anything a user can not already do with his smart phone and the respective apps – but in any case it will be more convenient to use. It remains to be seen how the concept will perform in drawing potential customers but it could very well provide the added convenience customers have been looking for.

There currently is a campaign on kickstarter.com to finance the mass production of the Kerv ring.

Author: Daniel Stöter. iXtenso.com

channels: mobile payment, NFC (near field communication)