Smart rings seen as new frontier for cashless payments

The chip-embedded ring, made out of zirconia, the synthetic crystal that’s sometimes used in place of diamonds in jewellery, lets people lock their door as they step out for a run as well as pay for drinks in stores. — Evering

As retailers around the world seek ways to make it easier for consumers to shop seamlessly without touching anything, one company in Japan is betting its technology can rule them all: a smart ring that can act as a wallet and a key.

MTG Co, a Japanese health and beauty company, has started selling the “Evering”, which it envisions as a one-stop digital wallet. The chip-embedded ring, made out of zirconia, the synthetic crystal that’s sometimes used in place of diamonds in jewellery, lets people lock their door as they step out for a run as well as pay for drinks in stores.