Paying with your ring: how does it work?

Just like contactless payment with a debit card, you can pay with your ring. This works very simply, you briefly hold your NFC ring near the payment terminal for a quick transaction. In this article, we cover the features and limitations.

It is important to note that for purchases up to $50, no PIN is required. For higher amounts, you confirm the payment with your PIN or a specific confirmation method linked to your ring. This way you can still easily pay with your ring.

Paying transactions with NFC ring

It is good to know that the procedure has to do with the transaction value. Amounts above €50 require an additional operation.

For amounts up to €50

• Check the amount.
• Hold your NFC ring close to the screen or side of the payment terminal.
• Listen for three short beeps from the payment terminal, indicating that the payment is successful.

For amounts above € 50,-

• Check the amount.
• Hold your NFC ring at the payment terminal as previously described.
• Enter your 4-digit PIN at the payment terminal and press OK or use your NFC ring's confirmation method.
• Wait for the three short beeps confirming successful payment.

Security limits of paying with your ring

To make paying with your ring safe, limits have been established. Similar to those for debit cards and mobile payments. These limits may vary by bank or app. Check with your bank for the specific limits for your ring.

How does the NFC ring work?

The NFC ring contains a small NFC chip. This chip is similar to the chips in contactless payment cards and smartphones. The NFC chip in the ring does not have its own power supply. Instead, the chip receives energy from the NFC reader in the payment terminal via electromagnetic induction. When the ring is held near a payment terminal, the reader in the terminal activates the NFC chip in the ring. The chip then transmits payment information to the vending machine.

Safety

For amounts up to $50, a PIN is often not required. The transaction is completed quickly and contactlessly. For higher amounts, a PIN or other form of authentication is requested, depending on the settings of the ring or the bank. The NFC ring offers a convenient alternative to traditional payment methods, especially in situations where carrying a wallet or phone is impractical.

Find out what you can do with your watch here!