Visa Invented a Ring That Doubles As a Credit Card
There are so many great things about the Olympics (cue that epic theme song): those adorable Olympic uniforms, getting together with friends for an Olympics party and, apparently, debuts of the latest and coolest gadgets.
Visa is introducing a rad ring, capable of making payments just like a credit card, this summer at the Rio 2016 games. They’re waterproof and don’t require any battery or charging — perfect for Olympians who need to buy something immediately after completing the 400-meter breaststroke.
The rings work with NFC (Near Field Communication), the technology at work behind Apple Pay and those swipe-less credit cards. It’s also super safe. It works with a “token” system that encodes the wearer’s credit card information. According to Visa, it is the world’s first “tokenized payment ring.” And on top of all the tech, the ring is a wearable we would actually wear. It’s a simple design that would look good on any hand.
So, here’s a teeny tiny catch. At the moment, the Visa Payment Ring is only for the 45 Team Visa Olympic athletes, a spokesperson for Visa told us. However, don’t give up hope yet: This is being used as a trial period that will “help inform any next steps.” Does this mean a credit card ring could totally be in your future? Affirmative, yo.
The payment rings will start working down in Rio when the games start on August 5.