MuchBetter launches contactless payment ring in Italy

This move aims to enhance consumer convenience and style while removing traditional cost barriers associated with wearable tech.

The MuchBetter ring, available at no charge, requires customers to load it with EUR 100 via the MuchBetter digital wallet app, challenging competitors who typically price similar products upwards of EUR 100. Functioning like any other contactless payment device, the ring enables users to make payments globally wherever Mastercard is accepted, simply by tapping it on contactless terminals.

To obtain the ring, customers can visit the MuchBetter website, specify their ring size, and pay a nominal EUR 5.99 delivery fee. Upon receipt, the ring pairs with NFC-enabled smartphones using MuchBetter's 'Knock To Activate' feature within their digital wallet app.

Revolutionising wearable payments

Setting itself apart from other wearable payment solutions, the MuchBetter ring operates without batteries, does not require charging, and remains water-resistant and durable. Users can load funds at their convenience, receive real-time transaction alerts, view spending histories, and instantly freeze the ring if lost or stolen, all without the need to contact their bank.

Powered by an IoT platform, the MuchBetter ring integrates into everyday wearables, offering both payment functionality and digital ID verification. This technology facilitates secure transactions through tokenisation, ensuring user payment details remain private.

This launch aligns with MuchBetter's strategy to democratise access to advanced payment technology, providing consumers with greater flexibility and freedom in their payment choices. As Italy's contactless market continues to expand, the MuchBetter ring offers a compelling alternative to traditional payment methods, particularly amidst a landscape where cash transactions still dominate.

Following its introduction in Italy, the MuchBetter ring is slated for release in Germany, Austria, the UK, Ireland, and Poland, further expanding its accessibility across Europe. With its innovative approach and strategic partnerships, MuchBetter aims to redefine the wearable payments sector, making cutting-edge technology more accessible and affordable for mainstream adoption.