OTI Launches Breakthrough Wearable Payment Device - Beautiful Silver Ring with Smart Payment Bling
On Track Innovations Ltd. (OTI), a global provider of near field communication (NFC) and cashless payment solutions, today announced the launch of its latest innovative PayEnabled device –the Ring of Things. The sterling silver and onyx designed ring is a payment device packed with the latest Internet of Things (IoT) technologies including secure payment, gyro-based motion control and smartphone notifications.
The Ring of Things is a vivid example of OTI’s PayEnable platform’s versatility in turning ordinary products into the latest and coolest smart payment devices. Industries that can benefit from using PayEnable technology include jewelry, fashion, automotive, banking, travel, smart home and entertainment.
The wearable payments market is forecast to grow at 177% per year between 2015 and 2020, accounting for an annual $500 billion worth of transaction volume by 2020, according to Tractica.