Former Ukash CEO David Hunter has joined wearable payments startup Kerv as chairman as the firm kicks off a crowdfunding campaign for the launch of its first product, a contactless payments ring.
Kerv made its debut on Kickstarter this morning in an effort to raise £77,000 in mass production capital.
The ring, which will retail at £49.99 has an outershell made of zirconia ceramic and is scratch resistant and water proof.
Beyond retail payments, Kerv also offers instant sharing of emergency, medical or contact details at the tap of an NFC-enabled phone, plus one-touch access via compatible NFC locks and security systems.
Incoming chairman Hunter says: "A lot of technology in payments strikes me as being a solution looking for a problem. I'm confident that Kerv will be well received on Kickstarter because it solves genuine problems, focuses on the user-experience and makes the underlying technology invisible."
Kerv is registered as an FCA-approved e-money issuer and as such offers a contactless prepaid card account for users, alongside a mobile app that can switch the ring on and off, manage funds and issue transaction alerts.