Wear a smart RFID smart ring on your finger to complete all payments. When you go out, you can complete the payment without using a mobile phone, bank card, wallet, or cash. This will make it possible in Australia. The first RFID smart ring launched in Australia has already begun operation.
According to Australian News Corporation, Matt Barr, senior vice president of digital and new payment processes at Mastercard, said that this is only the beginning of a more innovative and “cool” payment method in 2018.
As for security, anyone can wear your RFID smart ring and use contactless payment methods to pay less than $100, but like a bank card, users need to be careful not to lose their ring.
Barr said: "If there is a security problem, we will not bring this technology to market. This ring is bound to a bank account, the bank can take control measures on your card (or ring), set spending limits for the account, and Make restrictions on specific business categories."
Consumers will not suffer from fraud and illegal payments. If consumers can prove that the transaction was not conducted by the account holder itself, unauthorized payments on the wearable device will be refunded.
It is understood that other large Australian banks are also considering launching RFID smart ring-shaped payment devices. On a global scale, payment methods have been varied, including sunglasses and scarves, as well as RFID smart watches and RFID smart cards that we are familiar with.
Alex Boorman of RFi, a strategic intelligence company, said that the four major banks offer a variety of wearables, including wearables, which will be available on the market. He said that these devices are still relatively novel, but they will eventually become "meaningful things" that consumers will use every day.
In 2018, the Meihe smart card factory developed an RFID smart ring ring of the same type that can replace various functions such as access control, membership, and recharge. Deeply loved by consumers, this RFID smart ring ring is more convenient than the traditional rfid card and RFID key chain. It is more favored by consumers whether it is carried or used. At present, some customers have purchased rfid. Smart ring replaces the traditional rfid card.
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