24 March 2017
visit http://events.sap.com/gb/fsi-forum-2017/en/home

Contactless payment ring launches on Kickstarter

25 September 2015  |  19462 views  |  7 contactless payment ring

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.

Comments: (7)

Dave Sanderson
Dave Sanderson - YBS Group - Bradford/Leeds - UK | 25 September, 2015, 09:14

I've just backed this, looks like a brilliant idea.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Alexander Peschkoff
Alexander Peschkoff - TEDIPAY - London | 25 September, 2015, 10:14

I love the ring form factor. It was widely rumoured a couple of years ago that Apple's payment solution would be based on a ring.

Performance issues aside, the main challenges with the rings are logistics and psychology. Wrist and fingers are highly personal spaces; it's a valuable "real estate" for making a statement (absence of anything is a statement too). Hence, getting some universal design/colours work for even a third of the marker is hard.

Logistics-wise, it's design/colour combos x ring sizes. Not a small task...

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Alexander Peschkoff
Alexander Peschkoff - TEDIPAY - London | 25 September, 2015, 11:02

I think I'll back up the project, but they need to be careful with the "world's first" statement - there have been several NFC ring projects out there already (some EMV-compatible too).

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Alpesh Patel
Alpesh Patel - SOLDO - London | 25 September, 2015, 11:16

Just backed this
Wish you and your company well

Im sure in the future will seee variations on this as well other innovations.

GOOD LUCK KERV

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
James Bell
James Bell - IBM UK LTD - London | 25 September, 2015, 11:51

I like the no-charging and no-pairing aspect of this. I guess it is a virtual prepaid card but in ring form factor? In that case is it like Barclaycard bpayband but just the form factor is different? (other than the further configurability in the video such as transmitting contact details)

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Andrew Rothwell
Andrew Rothwell - Tyro Payments Ltd - Sydney | 28 September, 2015, 02:57

Wearables work, if you like adorning yourself with tings. 

Biometrics seem so much more natural, and there's no technology to make invisible, for the consumer that is...

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Alexander Peschkoff
Alexander Peschkoff - TEDIPAY - London | 28 September, 2015, 09:50

Andrew, bio template needs to be stored somewhere (locally).

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Visa peers into the future of wearable payments with graduate design scheme

Visa peers into the future of wearable payments with graduate design scheme

24 September 2015  |  7497 views  |  0 comments | 14 tweets | 11 linkedin
Samsung to showcase NFC 'Smart Suit'

Samsung to showcase NFC 'Smart Suit'

04 September 2015  |  11207 views  |  0 comments | 23 tweets | 19 linkedin
TD, MasterCard and Nymi pilot heartbeat-authenticated contactless payments

TD, MasterCard and Nymi pilot heartbeat-authenticated contactless payments

11 August 2015  |  11168 views  |  0 comments | 27 tweets | 33 linkedin
Visa to showcase cashless trend on the catwalk

Visa to showcase cashless trend on the catwalk

09 July 2015  |  9796 views  |  0 comments | 18 tweets | 10 linkedin
Barclays takes on Apple with wearable payments

Barclays takes on Apple with wearable payments

29 June 2015  |  16370 views  |  1 comments | 39 tweets | 35 linkedin
US startup crowdfunds contactless bracelet

US startup crowdfunds contactless bracelet

12 June 2015  |  6157 views  |  0 comments | 14 tweets | 2 linkedin
AmEx and Jawbone team on fitness band payments

AmEx and Jawbone team on fitness band payments

15 April 2015  |  4942 views  |  0 comments | 8 tweets | 4 linkedin
Barclaycard to trial contactless gloves

Barclaycard to trial contactless gloves

16 December 2014  |  14300 views  |  3 comments | 30 tweets | 21 linkedin
Canadian banks to test heartbeat bracelet for contactless payments

Canadian banks to test heartbeat bracelet for contactless payments

03 November 2014  |  17132 views  |  0 comments | 17 tweets | 19 linkedin
CaixaBank to distribute contactless wristbands through branch network

CaixaBank to distribute contactless wristbands through branch network

09 October 2014  |  11728 views  |  0 comments | 11 tweets | 13 linkedin

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comParticipate in the surveyvisit abe-eba.eu

Who is commenting?

Top topics

Most viewed Most shared
French retailer Carrefour launches online bank accountFrench retailer Carrefour launches online...
31523 views comments | 15 tweets | 35 linkedin
Bank of England sets up fintech Community; runs blockchain and AI trialsBank of England sets up fintech Community;...
16655 views comments | 33 tweets | 26 linkedin
hands typing furiouslyMachine Learning: Lessons for Banks From S...
10337 views 0 | 12 tweets | 11 linkedin
Can banks really win in the payments business of the future? – new Finextra reportCan banks really win in the payments busin...
7952 views comments | 23 tweets | 36 linkedin
satellite26 Japanese banks register for Exchange-ru...
7642 views comments | 2 tweets | 1 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job