Hyperring has launched the Gen2 version of its NFC-payment ring, which allows secure, proximity-based payments without the need for sensors or a battery. Certified by Visa and MasterCard, the waterproof ring also offers features like multi-factor authentication, contact sharing, and emergency contact storage, available via a $20/month subscription.

The Gen2 model is cheaper and made from simpler materials than the original, with prices starting at $145. Security is enhanced with encryption, and transactions can be blocked through the HyperRing Pay app if the ring is lost. Future updates aim to include cryptocurrency payments and token transfers.

Meanwhile, McLear, the creator of the first NFC-payment ring, has ceased its RingPay program, citing financial difficulties. This shift leaves room for emerging competitors like Hyperring in the wearable payment space.

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