Revolutionizing Payments: Muse Wearables Launches India's First Wearable Payment Ecosystem

Muse Wearables, an innovative start-up incubated at IIT-Madras, has partnered with the National Payments Corporation of India (NPCI) to unveil India's first wearable payments ecosystem. This development, revealed by officials on Monday, promises to transform how secure cashless transactions are made in the country.

The cutting-edge ecosystem features a smart ring called 'Ring One', which allows users to make instant payments by simply tapping on any NFC-enabled device. Unlike traditional transactions, this process eliminates the need for a phone, card, or wallet, marking a significant shift towards contactless payments.

Co-Founder and CEO KLN Sai Prasanth emphasizes that the launch of Muse Wallet is an assertive step against foreign tech giants, proving that world-class technology can be homegrown in India. By converting RuPay cards into secure digital tokens, stored in a tamper-resistant Secure Element chip, Muse Wearables seeks to make cashless payments effortless for millions of cardholders in the coming years.

(With inputs from agencies.)