At Rio Olympics, pay for a purchase just by waving your hand in the air

| Saturday, June 4, 2016 - 10:17
First Published |
At Rio Olympics, pay for a purchase just by waving your hand in the air,Rio Olympics, Olympics, 2016 Olympic, Visa, payment terminals

Ring is embedded with a microchip and an antenna

New Delhi: There is something new for the athletes during Olympics this year - but it's not a new sport that we are talking about.
American financial services company, Visa is all set to introduce new 'payment ring', which will let people pay just by their hand gestures. The ring is embedded with a microchip and an antenna. Notably, the ring is battery-less and draws its signals from the payment terminals, thereby making payments hassle-free.
The product has been designed not only to be inconspicuous, but also be water resistant and does not require any charging. Instead, the ring draws its power from the payment terminal which is sufficient enough to enable the transaction. In case of a loss, the payment band can be deactivated from a smartphone, to evade its misuse.
At this point the ring is merely a prototype and won't be available for the general public, this time in Rio. The Olympics will, in fact, be a testing ground for the product, which if found successful can be made available to the general public in future. 

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