This new smart ring is made in South Africa

South Africa’s VezoPay is making waves in the world of contactless payments with its innovative smart ring. Stepping ahead of tech giants like Samsung and Apple, VezoPay offers a convenient and secure way to ditch your wallet – and even your phone – for everyday purchases.

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Founded by Jake Pinkus and Lawrence Baker, VezoPay isn’t offering just one ring; it boasts a series catering to different styles. The X Ring, crafted from ceramic, comes in a range of colors and finishes, starting at a budget-friendly R2,100. For those seeking a more classic look, the Classic Ring, available in silver with matte or gloss options, starts at R3,500. And for the ultimate statement piece, the Signature Ring offers plated or solid 18-carat gold in yellow or rose gold, ranging from R5,000 to a luxurious R28,950.

But style isn’t all VezoPay brings to the table. Their core mission is to simplify payments and eliminate the frustrations often associated with traditional methods. “We want to make payments as painless as possible,” says Pinkus. Their innovative technology sets them apart. Unlike other wearables that require frequent charging, screen interaction, or additional authentication, VezoPay’s ring boasts a refreshingly passive design.

Durability meets convenience with this shockproof, dustproof, and waterproof ring that never needs charging. Transactions are as simple as waving your hand near a payment terminal. “Our goal is for customers to focus on what matters,” explains Pinkus. “We eliminate the need to juggle devices, unlock screens, or deal with the hassle of cards.”

The ring caters perfectly to active lifestyles. Imagine grabbing a post-workout smoothie or a quick swim without worrying about carrying your phone or wallet. VezoPay envisions the ring as a constant companion, seamlessly integrated into your daily life. “You can forget about it until you need to pay,” the company states. “It’s always there, ready to go.”

Security is paramount, and VezoPay takes it seriously. The ring utilizes fully encrypted programmable NFC (near-field communication). When you link your card, a unique token, not your actual card details, is stored on the ring. This ensures that even if you lose your ring, your financial information remains secure. “Our tokenization process guarantees no actual card data is stored on the device,” says Pinkus. “Your financial information is safe, even if the ring is lost or stolen.”

VezoPay aspires to be a leader in tokenization technology, driving innovation in secure payment solutions through collaboration with other companies.  “Tokenization is the future of payments,” says Baker. “We want to be at the forefront, providing the most secure and convenient solutions for our customers and partners.”

The company’s vision extends beyond rings. While it’s their current focus, they plan to explore other wearable payment devices. “We believe wearables are just the beginning,” Pinkus remarks. “The next decade will see incredible advancements in this space.”

VezoPay’s founders envision a future where payments are effortless, powered by advanced yet invisible technology. “Smartphones are reaching a point of diminishing returns,” they say. “Wearables are the next frontier. Our ring is the first step towards a future where technology enhances life, not disrupts it.”

By partnering with South African banks (names yet undisclosed), VezoPay aims to create a more open and innovative payment ecosystem. With prominent backers like Phuti Mahanyele-Dabengwa (Naspers South Africa CEO) and investors from Investec, VezoPay is poised to revolutionize payments in South Africa and potentially beyond. Customer reactions have been overwhelmingly positive, with users surprised by the ease and convenience of using such a small device for everyday transactions. VezoPay is a South African company to watch, offering a glimpse into the future of secure and effortless payments.