The McLear smart ring is a new wearable that foregoes the focus on fitness and wellbeing tracking, and instead takes on the concept of contactless payments. Developed by a British company of the same name, the McLear smart ring connects to a phone via a companion app, and assigns it a secure isolated bank account. The companion app can also be used to track spending, average spending, and net spending over 15 days. The app can also be used to suspend the ring if it goes missing or is stolen.
In terms of design, the McLear smart ring is available in either white or black and is comprised of a scratch resistant and waterproof hypoallergenic ceramic. The wearable also doesn't require charging at all.
Image Credit: McLear
Why This Trend Is Growing
- Contactless Payment Wearables
- The McLear Smart Ring is a prime example of the growing trend of wearables designed specifically for contactless payments.
- Mobile Payment Tracking Apps
- The companion app for the McLear Smart Ring showcases the trend of mobile apps that not only facilitate contactless payments but also provide users with detailed spending analytics.
- Secure Isolated Bank Accounts
- The McLear Smart Ring taps into the trend of secure isolated bank accounts, allowing users to make contactless payments without exposing their main bank accounts to potential risks.
Industries Being Reshaped
- Wearable Technology
- The McLear Smart Ring is a disruptive innovation opportunity within the wearable technology industry with its focus on contactless payments and simplified design.
- Mobile Payment Solutions
- The development of the McLear Smart Ring highlights the potential for disruptive innovation within the mobile payment solutions industry, offering users a convenient and secure way to make contactless payments.
- Financial Technology (fintech)
- The McLear Smart Ring presents a disruptive innovation opportunity within the fintech industry by combining wearable technology with secure isolated bank accounts for seamless contactless payments.
