India’s First Wearables Payment Ecosystem – Muse & NPCI

• Who: Muse Wearables (IIT-Madras incubated startup) and NPCI
• Device: Ring One
• Network: Rupay
• Unique Feature: Contactless payments with hardware-level tokenisation

Key Features:

• NFC Payments: Tap the ring on any NFC-enabled POS terminal; no phone, card, or wallet needed.
• Security: Payments enabled via Muse Wallet and Rupay; card credentials converted to a token stored in a Secure Element (SE) chip.
• Anti-Theft: Ring only works when worn; disables payment if removed.

Significance:

• India’s first device-based wearables payment ecosystem, promoting contactless, secure, and convenient transactions.