Following the rise and widespread success of smartphones, the tech industry began adding intelligence to other everyday objects, especially those people carry or wear. Smartwatches were the first such items, flooding the market for years with increasingly advanced features. Various types of smart glasses have also emerged in recent years.

About a decade ago, the first smart accessories like bracelets, necklaces, and rings appeared, offering various functionalities. However, they failed to capture market interest, and their development was sidelined.

But a few months ago, several companies, including tech giants like Samsung, announced the imminent release of smart rings designed primarily to record personal, especially medical, data. Indeed, these rings have been launched, some incorporating artificial intelligence technologies, with prices ranging from €450 to €550. There are also reports that Apple is preparing to unveil its own smart ring.

The British company MuchBetter aims to revolutionize this sector by introducing a ring that allows its wearer to make payments and conduct financial transactions. According to its creators, this ring does not have a battery and does not need charging, functioning continuously as a payment device so that the wearer does not need to carry cash, a bank card, or a mobile phone for transactions.

The ring is made from a black ceramic material that encases a chip and an antenna, facilitating contactless payments. When held near a point-of-sale (POS) machine, a signal allows information transmission to initiate the transaction, which is conducted through an app linked to the wearer's bank account.

For security reasons, it is advisable for the ring's wearer to link it to a bank account used exclusively for the ring's transactions, ensuring only the necessary amounts for intended transactions are deposited into that account.

It should be noted that the company currently offers the ring for free to consumers, charging only for the app download, which costs around seven euros.

"Other smart rings are not as smart as their manufacturers claim. They are expensive, their batteries run out quickly, and while they offer health monitoring like steps and heart rates, none provide the ultimate convenience of making contactless payments on the go," say MuchBetter executives. The ring is a simple black band designed to avoid drawing attention or appearing valuable, thus reducing the likelihood of attracting a potential thief's attention as a piece of jewelry.

A Daily Mail journalist tested the ring, wearing it around London and using it in stores, on the subway, and elsewhere, conducting about ten different transactions. They reported that everything generally went well, with only two failed transactions likely due to delays in positioning the ring near the POS machine.

If this technology proves functional and secure, we can soon expect to see people using rings instead of cards or mobile phones at payment machines.