Digital India transformed the way we pay with the widespread adoption of UPI, making wallets nearly obsolete for 90% of mobile users. Now, it’s time for the next big leap in payment systems. Introducing 7 Ring—a game-changing innovation designed to revolutionize the way we make transactions. With this smart ring, payments are just a tap away, bringing ultimate convenience to your fingertips. While wrist-worn wearables continue to dominate the spotlight, smart rings are gradually gaining traction, showcasing their potential across various applications in wearable technology.
Vijay Vasudeo Khubchandani, Mehek Savla, and Karthik Menon, the Mumbai-based co-founders of 7 Ring, are the innovators behind a groundbreaking smart ring. They are bringing this revolutionary wearable payment solution to Shark Tank India 4, aiming to lead the wearable payment revolution. In an innovative twist on payment technology, the startup Seven Ring has captured the attention of investors on the fourth season.
This innovative smart ring requires no charging and offers unparalleled convenience. Backed by seven years of resilience and dedication, 7 Ring is poised to transform the payment landscape. Will this groundbreaking idea secure the Sharks’ investment?
How Did The Sharks React?
During the pitch, Anupam Mittal, one of the sharks, pointed out the presence of a competitor in the market. In reply, Vijay confidently stated that the market had ample space for multiple players. When Aman Gupta was asked about it, he shared that he had heard of health rings before but was encountering the concept of making payments through rings for the first time.
He told Vijay, “Vijay, pick up the pace; we’ll meet in the market.” Earlier, upon arriving at the set and seeing the startup, Aman had commented, “Kids keep coming and going.”
How Will The Ring Work?
The ring will operate on UPI Lite, which doesn’t needs a bank account linking. The Smart ring will be connected to a mobile wallet. And when you have to pay, you will have to just close your fists and tap, where the payment will be done automatically. No Bluetooth pairing or charging required. Just wear it on your finger and tap and pay like you would use your contactless card. Place your fist near a point-of-sale (PoS) terminal that accepts contactless payments. It works on NFC (near field communications) technology, a short-range wireless connectivity standard that uses magnetic field induction to enable communication between devices when touched together or brought within a few centimeters.
Where All Will This Ring Work?
The company offers three variants of the smart ring, all of which are manufactured in India. The rings are equipped with patented technology. It utilize an antenna that operates on specific frequencies which is compatible with major payment networks like MasterCard, RuPay, and Visa. Apart from all the payment mode, it can also function as a metro train card.
Design
The ring’s design is crafted with precision, using premium aerospace-grade Zirconia Ceramic (ZrO2), celebrated for its outstanding scratch resistance. Its exterior features a stunning diamond glaze, giving it a sleek, glossy finish, while the interior is lined with hypoallergenic resin for enhanced comfort.
Pricing And Features
The smart rings are available in three price ranges—₹1,500, ₹4,500, and ₹27,000—with the high-end model featuring 18-carat gold craftsmanship. Users can also enjoy cashback rewards for payments made using the ring. Powered by NFC technology, the ring harnesses electromagnetic fields upon contact, delivering a smooth and hassle-free payment experience.
