Hyperring has released a new version of its Hyperring Gen2 NFC ring, which allows users to make payments directly from their finger.
Hyperring, a well-known device manufacturer, has released a new version of its ring with an NFC chip. Unlike conventional smart rings, Hyperring Gen2 has no sensors or batteries. Its main function is contactless payment using an NFC chip certified by Visa and MasterCard.
The ring supports multi-factor authentication, virtual contacts and storage of emergency numbers. These features are available for a $20/month subscription. Hyperring Gen2 uses activation technology within a radius of 3 cm from the device, which is shorter than the standard NFC distance.
If the device is lost, users can block the transaction through the HyperRing Pay app. Support for cryptocurrency payments and the ability to transfer tokens will be added in the future. The Gen2 ring costs $145 depending on the material, but there are no platinum or diamond options that were present in the first version.
The NFC ring market was previously led by McLear, which created the first payment ring, but recently announced the closure of its RingPay program due to financial difficulties.
Hyperring Gen2 sets a new standard in the wearable market and presents a new approach to contactless payments that combines convenience, technology and security.