Abhishek012
TF Pioneer
LivQuik launch "7 Ring" (RuPay-On-The-Go + NCMC) | Manufactured in India | Patent in India:
Website:
7 Ring – India’s first contactless payment wearable ring
7 Ring is India’s first open-loop contactless payment wearable ring, certified by RuPay. 7 Ring is the fastest, easiest and safest way to pay offline.
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Linked to a prepaid wallet
7 Ring links to a digital prepaid wallet issued by 7, which you can top-up using our apps on iOS or Android, and use your 7 Ring at any compatible POS (point of sale) machine for making payments from it.
Not connected to your Bank Account
7 Ring is not linked to your Bank Account and requires you to Add Money or set Auto-Top mandate to its prepaid wallet using UPI, thereby keeping your main bank account safe and secure.
Passbook for all your transactions
7 Ring app also provides a comprehensive Passbook where you can view and keep track of all the transactions that have occurred in your 7 Ring linked digital prepaid wallet.
More secure than cards and payment watches
Conventional contactless credit / debit cards and payment wearable watches have a design flaw. They are vulnerable to skimming fraud and payment theft, because they transmit payment data along the plane of their surface, so an activated POS can withdraw money even without your knowledge.
A digital wallet that you can wear on your finger
The seamless and non-intrusive design of 7 Ring takes away the hassle and cognitive load of having to remember and carry multiple plastic cards with you at all times. Now you can wear your money in the form of 7 Ring and focus on more important things in your life and work.
Slim and Sleek design for all day wearing
7 Ring is a sleek little wearable, which accentuates your personality and blends well in a formal as well as a casual setting. 7 Ring has a non-intrusive comfortable design that becomes an invisible part of your anatomy over time, as it doesn’t need to be removed for charging.
Looks stunning even when not in use
7 Ring is a fashionable and chic payment wearable, which has a lustrous surface finish that looks absolutely stunning on your hand, no matter what activity you’re involved in or what time of the day or night it is. In that sense, 7 Ring is a head-turner and attention grabber.
Time to evolve
Will my 7 Ring work on any POS machine?
7 Ring works on NFC technology and hence will work on every POS machine which has contactless enabled in India, depicted by four curved lines that get bigger from left to right.
Will my 7 Ring require a PIN for transactions above INR 5,000?
Yes, as per the recent RBI mandate in India, contactless cards and wearables like 7 Ring will only require a 2nd factor authentication PIN for transactions above INR 5,000. You can set this PIN from the 7 Ring mobile app after wallet registration.
Are there any transaction limits associated with my 7 Ring?
Yes, there are two limit criteria based on your KYC. When you first activate your 7 Ring, you’re registered as a Min KYC customer with a monthly transaction limit of INR 10,000. Going forward, when you complete your Video KYC via the 7 Ring mobile app, we upgrade your account to Full KYC where you can enjoy up to INR 2,00,000 in monthly payments.
Can I configure the transaction limits for my 7 Ring?
Yes, you can choose to restrict the daily as well as per transaction limit for your 7 Ring from our mobile app, within your overall spend limit based on your KYC.
Is it possible to make accidental payments with my 7 Ring?
No, your 7 Ring only works when it is placed parallelly within 4 cm range of a contactless reader.
