Security-focused wearable company HyperRing announced that it has partnered with Fintech specialist KOYPAY to expand on HyperRing’s functionalities. The joint venture between the two companies will see the creation of HyperRing Pay, enhancing the smart device’s functionality to support contactless payments.
The creation of HyperRing Pay introduces ring payment functionality to the wearable’s core multi-factor authentication (MFA) technology. With HyperRing Pay, users can effortlessly load funds, make secure transactions, and enjoy a frictionless payment journey with their devices. As the HyperRing is sensorless and battery-free, the user will have a reliable and convenient payment option to supplement traditional mobile pay methods.
HyperRing Pay users can enjoy the flexibility of topping up prepaid cards associated with their rings using a wide range of currencies, including both fiat and cryptocurrencies, thanks to KOYPAY’s payment infrastructure.”The top-up can be done online or through the HyperRing Pay app, providing flexibility for users. Compatible with Visa and Mastercard terminals worldwide, HyperRing Pay allows consumers to effortlessly tap and pay at any point of sale (POS) terminal.
“Our vision for the HyperRing is to create a reliable extension of a citizen living in a digital native society – where they can use the device to validate their identity, authenticate their transactions, pay contactless everywhere, have physical access to spaces and events, be a part of private communities and more,” said Joy Zhang, CEO of HyperRing, “The inclusion of payment capabilities is an exciting step towards achieving this vision.”
Jacky Tsoi, Founder of KOYPAY, said “The HyperRing Pay partnership perfectly aligns with our core focus of bringing innovative solutions to the financial sector. We are excited to introduce this game-changing wearable to our B2B clients, which will unlock new markets and enable potential inflows for issuers.”
The HyperRing Pay joint venture will focus on the B2B market, enabling companies and communities to issue prepaid cards in the form of HyperRings to their users. In addition to the HyperRing Pay branding, the solution offers a white label option for the prepaid cards and the wearable rings, so businesses can have their own custom branding. Each end user will receive a virtual card and a wearable ring, with an option for a plastic card as backup.
The HyperRing’s discreet design makes it ideal for consumers who wish to enjoy the convenience of contactless payments without attracting undue attention. At the same time, the aesthetic design makes the device lightweight, comfortable, and effortless to use.
About HyperRing
HyperRing is a wearable ring that allows users to secure their wealth and participate in the digital economy. Battery-less and sensor-free, HyperRing provides users with assurance that no one is tracking them or collecting their data. The smart device utilizes NFC and MFA to protect against data theft, identity theft, and impersonation and represents the future of lightweight multi-functional wearables.
About KOYPAY
KOYPAY is a client-focused and result-driven company that provides broad-based services such as financial transaction processing, issuing preloaded, open-loop credit and debit cards to consumers for making purchases at an affordable fee that won’t in any way put a hole in the pocket of our clients.
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