Tag: Contactless Payment Technology

Highlights 7 Ring features NFC technology for secure, tap-to-pay convenience. Available for Rs 4,777 as a special offer for early adopters. Crafted to be dust and waterproof, ensuring longevity and reliability. Accompanied by an intuitive app, it allows for easy transaction monitoring and management. In a move that merges convenience with technology, the innovative startup Seven has launched the '7 Ring' – a sleek smart ring that emerges as a game-changer in the contactless payment scene in India. Priced at an attractive Rs 7,000, this wearable tech ensures that making transactions is as simple as a hand gesture. Moreover, early adopters are welcomed with an irresistible offer, snagging the ring at just Rs 4,777. 7 Ring: Features 7 Ring: Features The product carries a validity period of 55 months, accompanied by a reassuring 1-year limited warranty. Currently, the 7 Ring is exclusively available to those with an invite code from existing users. As such in a market of smart rings such as the boAt Ring and the Noise Luna, priced at Rs 8,999 and Rs 15,999 respectively, the 7 Ring stands out not only in affordability but also in its unique feature set. The 7 Ring promises ease with its tap-to-pay functionality. Embedded with cutting-edge NFC technology, this dust and waterproof accessory ensures your payment experience is seamless and secure. Available in seven distinct sizes, the 7 Ring is likely to provide a comfortable fit for every user. It is paired with a user-friendly app, which gives consumers complete control over their financial transactions with a tap of their finger. How the 7 Ring Handles Payments How the 7 Ring Handles Payments Utilizes NFC technology, upholding international security standards for contactless payments. Requires a one-time app setup to load funds, after which the ring does not depend on the app for transactions. Comes with a basic monthly transaction limit of Rs 10,000, which can be expanded to Rs 2,00,000 with video KYC. Offers an app interface to monitor expenditures, customize spending thresholds, and secure the ring if misplaced. Innovative 'fist gesture' payment prevents fraudulent transactions and ensures payments are intentional. Operates without charging, powered by the payment machine during transactions. Restricted to UPI payments within India, it does not facilitate online or international transactions. FAQs Q: What makes the 7 Ring different from other smart rings on the market? A: The 7 Ring is uniquely positioned as an affordable yet sophisticated option in the Indian market. At Rs 7,000, with an early bird price of Rs 4,777, it offers a secure, NFC-enabled payment method that's durable and easy to manage. Unlike its competitors, it promises an exclusive buying experience through invite-only access, enhancing its appeal. Q: How does the 7 Ring enhance the security of contactless payments? A: The 7 Ring uses NFC technology that meets high international security standards for contactless payments. Additionally, its unique 'fist gesture' feature ensures that payments are made only when the user intends to, reducing the risk of fraudulent transactions. Q: Can I monitor and control my spending with the 7 Ring? A: Yes, the 7 Ring comes with a dedicated app that lets you track your spending, set limits, and promptly secure your ring if it gets lost. It gives users complete control over their finances with user-friendly features that enhance the payment experience. Q: Is the 7 Ring limited to transactions within India, and does it require regular charging? A: The 7 Ring is designed for UPI transactions within India, making it a localized payment solution. Moreover, it doesn't require charging; it draws power from the payment terminal during transactions, ensuring it's always ready for use.

Tag: Contactless Payment Technology

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