London, 4th December 2018:
British technology start-up McLEAR, has today launched the McLEAR Smart Ring, a small, light-weight device which allows you to make payments by simply tapping your hand. Gone are the days of rummaging in pockets and wallets for bank cards or phones, people can now make a quick and seamless transaction by placing their hand over a payment terminal whenever they see the contactless symbol anywhere in the world.
The ring can be connected to any of the user’s cards or bank accounts, so they continue to be used albeit it with a radically enhanced user experience. Through using the ring, people can keep track of their day-to-day spends with the accompanying app.
Speaking about the ring, co-founder and CEO of McLEAR, Nicoli Prencipe, said:
“McLEAR Smart Ring is the payment device that allows you to always “carry” your wallet on your hand. Whether you are quickly moving through the Tube, going for a jog, or have your hands full, payments can be made with a stunningly simple tap of your hand. It requires no buttons, FaceID, or fingerprint scanning to use.”
Unlike paying with your smart phone or smart watch, which typically run out of battery in a single day, the McLEAR ring never requires charging, so you can always keep it with you and never have to worry about it running low. This is because it was especially engineered so that it does not require a battery.
Made from high-purity zirconia ceramic, the McLEAR Smart Ring is one of the strongest consumer electronic devices on the market. This makes it highly scratch resistant, so you do not need to worry about scuffing it. It is strenuously tested to withstand breaking throughout all normal day-to-day use – and is fully waterproof. The ring will not cause skin irritation thanks to it being designed with hypoallergenic properties.
Privacy and Anonymity
The McLEAR Smart Ring ushers in an era of anonymous security architecture never seen before in a consumer device. This Anonymity Architecture helps people protect themselves from security and privacy threats. These threats exist anywhere a person provides their personal information to someone else. Thanks to this architecture the ring allows consumers to pay for goods, without surrendering the privacy and security of their personal information.
“Our aspiration with the McLEAR Smart Ring is to resolve the global privacy crisis”, said Nicoli Prencipe, McLEAR co-founder and CEO. “It is our belief that this crisis will continue to metastasize, ad infinitum, until every piece of personal information about us is sold and traded on the Internet. Our privacy – our freedom – is invaluable.”
Each ring comes with a secure isolated bank account. This account sits between any of your cards or bank accounts and the merchant, so that your credit card details are never again shared with anyone and the transaction information is not directly tied back to you, reducing the risk of fraud.
The ring does not connect to the internet, and therefore you, as the only physical holder of the ring, are the only person able to access your connected accounts. If you lose the ring, you can immediately lock your entire identity connected to it with the click of one button in the app.
The McLEAR Smart Ring is designed so that it is always in your safest place in the world: in your hand. Unlike your phone or cards, it cannot slip out of your hand, be taken out of your pocket, or simply be photographed by a camera.
Providing the highest level of security was the crux of this innovation for McLEAR, who recognise the importance of protecting consumers’ privacy and personal data, especially in a year of high-profile global privacy breaches. The McLEAR Smart Ring puts power back into the hands of individual people, giving them the ability to protect themselves against fraud and data theft.
Eight Years of Development
The product is the result of eight years of intensive research and costly development. Since the firm launched the world’s first smart ring (the NFC Ring®) in 2013, McLEAR’s team of British engineers and world-class experts have been hard at work with the world’s largest financial institutions, including a partnership with Visa, to invent the next generational leap of payments and security implemented through this smart ring device.
Unveiled at the Rio Olympics in 2016, the revolutionary McLEAR Smart Ring were used by 45 Olympic hopefuls who were inspired by the vision that advanced, elegantly simple rings could make payments, increase security, and perform many other functions. The ring was then showcased around the world at major events including the Super Bowl, FIFA Confederations Cup, Eurovision, and the GRAMMYs. Exactly two years later, this vision has become a reality as McLEAR launches this breakthrough wearable device.
McLEAR is also working on a host of updates and features over the coming months, that will enable the user to do things such as managing your financial affairs, unlocking your car, your home, securing your locker at the gym, and replacing your passwords.
Pricing and Availability
McLEAR Smart Ring will be available in the United Kingdom from 4th December 2018, Europe and the US in late 2019, and Japan in 2020. With a minimalistic and sleek design, the McLEAR Smart Ring is available in both black and white models. You can find your ring size using the directions on the McLEAR website. McLEAR Smart Ring can be purchased from the McLEAR website for £129.
The McLEAR RingPay app is compatible with Apple devices running iOS11 or above, or an Android device running Marshmallow or above. McLEAR Smart Ring will not initially work with American Express cards.
McLEAR catalysed the smart ring industry in 2013 with the NFC Ring. Today, McLEAR’s goal is to resolve the world’s privacy crisis with a range of smart rings that enable people to attain anonymity. McLEAR Smart Ring, the first smart ring built from the ground up as a secure identity device, begins sales in November 2018 in the United Kingdom. United Kingdom based McLEAR designs and manufactures electronic smart rings and security systems. McLEAR has delivered more than 350,000 smart rings worldwide. McLEAR works in partnership with Visa, Gemalto, Infineon, and other financial and technonlogy institutions.
Images available at: www.mclear.com/press