IN NEWS: Wearable Payments Ecosystem in India: Smart Ring “Ring One” with RuPay Integration
A Bengaluru-based deep-tech startup, Muse Wearables, in collaboration with National Payments Corporation of India, has launched India’s first wearable payments ecosystem powered by RuPay. The system enables instant, secure, contactless payments through a smart ring device “Ring One,” eliminating the need for physical cards, mobile phones, or wallets.
The initiative marks a significant step in India’s transition toward a cashless and contactless digital economy, aligning with the broader goals of Digital India and fintech innovation. By integrating wearable technology with payment infrastructure, the ecosystem enhances convenience, accessibility, and security in financial transactions.
A key technological innovation lies in the use of Secure Element (SE) chip-based tokenisation, where users’ RuPay credit or debit cards are converted into digital tokens stored directly in hardware. This ensures that sensitive financial data remains isolated from mobile operating systems and applications, significantly reducing vulnerability to cyber threats. The system adheres to global EMV and PCI security standards, ensuring high levels of trust and interoperability.
The use of Near Field Communication (NFC) technology allows seamless tap-and-pay functionality at POS terminals, similar to contactless cards but with enhanced portability and user experience. Importantly, the feature that payments work only when the ring is worn adds an additional layer of biometric-like security, preventing misuse.
From a strategic perspective, the collaboration with NPCI and RuPay reflects India’s push toward a “sovereign digital payments ecosystem”, reducing dependence on foreign digital wallet providers and strengthening domestic fintech capabilities. This aligns with the broader policy vision of Atmanirbhar Bharat in digital infrastructure.
The initiative also has strong implications for financial inclusion, as the platform aims to expand into Tier-2 and Tier-3 cities, making advanced payment technologies accessible beyond metropolitan areas. With Muse Wallet already operational in 40+ countries and supporting ~600 banks, its integration into India’s RuPay ecosystem can accelerate adoption at scale.
Overall, this development represents a convergence of wearable technology, fintech innovation, and secure digital payments, positioning India at the forefront of next-generation payment systems.
Updated - 14 October 2025 | 01:25 PM | The Hindu