The Evering uses NFC to work with Visa’s payWave technology at any payment terminals. It is exclusively offered for credit card users in Japan at the moment. The smart ring does not work with debit cards and prepaid cards. Nevertheless, the ring will soon be used to lock and unlock doors.
The ring comes with a mobile app that users can use to link their credit cards regardless of the brand, whether it’s Visa, Mastercard, JCB, Amex, or Diners, as long as the card is issued in Japan. If the user loses the ring, they can disable it through the app, so it won’t be used without permission.
Unlike the traditional method of swiping payment cards, the Evering can work without keying a PIN number. The user only needs to tap or hover the ring over the Visa payWave-enabled POS terminal and wait for the transaction to go through. But like most NFC-based payments, there is a floor limit, which is up to 120,000 yen (around US$ 1,000) every month.
Like credit and debit cards, Evering’s payment function has an expiration date, which is 4 years. Once renewed, the user will be allowed to use the ring again for payments. Each ring’s lifetime will only be allowed up to 1 million yen (around US$ 9,100). Once used up within the expiration date, users will receive a new Evering.
The Evering is made of non-allergenic zirconia ceramic. It’s waterproof and slim enough to look like a regular smart ring. As a passive NFC smart ring, the Evering does not require charging at all. It works 24/7 without a power supply. Sizes range from 4.5 to 13 (US). The ring is available in black color only.
Evering is available for pre-order to qualified customers in Japan. Price starts at￥19,800 / $180 / €147. Shipping is expected to start by September 2021.
According to smartringnews.com