Contactless payments methods have taken all shapes and sizes since contactless was first introduced in 2007. Simplicity and accessibility are two of the most important things for a consumer, and when something blends into their everyday lives, they become happy. Without the hassle of finding a card in a wallet, wearable payments do exactly this. They have grown in popularity, especially over the pandemic in which the whole world became more accustomed to using contactless. Thales, the French company with a strong history in providing secure payment products to banks and other financial institutions, has decided to capitalise on this, introducing a payment ring in Japan through a partnership with EVERING.
The EVERING, an NFC ring, enables contactless payments working on a “Less is Smart” premise. The waterproof ceramic ring supports cashless and touchless payments, offering a seamless experience for users to pay when the ring is held in close proximity to the payment terminal. The waterproof battery-less ring requires no charging, and marries fashion with technology, with the convenience of contactless transactions.
Thales will provide both the secure embedded chip and Operating System as well as card personalisation services for the device, with EVERING as the Payment Card Issuer, enabling fast and secure contactless transactions on this ring. The payment data on the ring will be directly linked to customers’ prepaid bank accounts. The payment personalisation services on the rings ensure optimal data management for EVERING. All integration and personalisation work on the rings will be undertaken by dedicated Thales teams in Asia, ensuring close collaboration with EVERING to meet the evolving needs of their end-users.
“We are delighted to partner with EVERING, a company that is bridging technology and fashion with the launch of their contactless payment ring. Thales has a long history of providing digital identity and security solutions in Japan, notably in the area of mobile communications and banking services. This collaboration takes our commitment a step further as we work with an innovative start-up to support their customers in this fast-evolving payment ecosystem. With this partnership, Thales is accelerating our business development efforts with alternative payment issuers in Japan, including Fintech companies, as we continue to refine our technology for wearable devices,” Cyrille Dupont, Country Director, Thales in Japan.
“Consumers in Japan acknowledge that contactless electronic transactions are the way forward, with rapid adoption accelerated by the pandemic. By combining aesthetics with functionality, and most importantly, security, the EVERING may well be a solution that can drive Japan towards becoming a cashless society. We decided to partner with Thales because of their proven track record in security and encryption technologies. With this partnership, we assure our customers that their financial transactions remain safe and secure and that the ring is equipped with international-standards of security technology,” Takeshi Kawada, Chief Executive Officer, EVERING.