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Send money using a special ring

ABN Amro is testing a system that can make use of wearables to facilitate contactless payments directly from customer accounts. The bank said it is the first to make this possible. A select group of users are currently trialing special watches, rings and other wearables with NFC to make payments. There are some 40 million NFC-enabled contactless ATMs worldwide. The bank intends to introduce the system by the end of this year. The bank is also looking for more partners in this project. The bank said a select group of testers are already using a special Kerv ring or watch to make contactless payments directly from their bank accounts. The bank is working with Mastercard and DIGISEQ in this project.

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