BankWise Technology, a Saratoga Springs developer of advanced custom programming for banks, announced that it has provided the system development, integration, and support for the nation’s first wearable payment ring launched by the award-winning digital bank Quontic.
The Quontic Pay Ring is an innovative payment technology that allows Quontic customers wearing the ring to conveniently wave their hand near a contactless terminal to make retail purchases. Officials said the process is like tapping a credit or debit card and can be used worldwide at any payment terminal that accepts contactless payments.
The launch of this product required significant development effort to integrate the systems, streamline the operational processes and implement the safeguards necessary to both deliver the rings and to ensure their usefulness once deployed, according to BankWise. It provided the code and systems to manage key components of the product including customer authentication, ring ordering, sizing and fulfillment, ring activation, inventory management, integration with the bank’s core system, and customer communication updates via email or SMS on the pay ring’s order status.