Bankwest launches tap and go payment ‘ring’

Bankwest has released a new ‘tap and go’ wearable payment device, touted as “Australia’s first” payment ring.

Christened ‘Bankwest Halo’, the ring serves as a standalone payment device, allowing customers to pay for goods and services – through contactless payment terminals – with just the swipe of their (ringed) hand.

The fashion-conscious wearable, which operates independently of a credit card or mobile wallet and requires no charging, is being promoted by the bank as a convenient and readily accessible payment device for today's increasingly mobile customers.

“No more fumbling for your purse or wallet, no need to ensure your phone’s charged in order to pay – it’s a new era in contactless payment,” said Nichole Banks, Bankwest’s general manager, customer communications and brand.

“Our customers’ lives are so varied and this ring offers them complete freedom to pay wherever and however they want. The likes of cyclists, swimmers, surfers and joggers will love the Bankwest Halo’s convenience,” she added.

The Halo was one of a number of contending devices – including an assortment of fitness bands and key fobs – trialled by Bankwest staff last year in an effort to identify the ideal fast-payment technology for everyday purchases. Based on the feedback from participating staff, the Halo was chosen as the best fit for Bankwest customers. 

Despite the $39 price tag, the minimalist designed ring is predicted to be well-received by Bankwest customers.

”As it’s a ring, something usually that people choose to wear as jewellery, it’s got that little bit of a 'wow' factor too,” Banks said.

Australian has among the highest uptake rates for contactless payment terminals in the world, with more than one-third of all retail transactions conducted through contactless tap and go facilities.

 

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