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Smart Rings Seen as New Frontier for Cashless Payments
- Japanese health company develops ring to replace wallets, keys
- MTG aims to spin off ring unit into separate listed subsidiary
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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 jewelry, lets people lock their door as they step out for a run as well as pay for drinks in stores.