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Muse Ring One: India’s First Wearables Payment Ecosystem with NPCI

15 October 20251 min read
BANKING & FINANCEMuse Ring One:India’s FirstWearables PaymentEcosystem with NPCI15 October 2025safalsetu.com

Why in the news

A payment ring from Muse Wearables, built with NPCI, was introduced as the country’s first wearables-based payment system.

Key facts

  • Partners: Muse Wearables (IIT-Madras incubated) and NPCI.
  • Device: Ring One; network: RuPay.
  • Payment mode: tap the ring on any NFC-enabled POS terminal, with no phone, card or wallet.
  • Security: Muse Wallet and RuPay enable payments; credentials are tokenised and stored in a Secure Element (SE) chip.
  • Anti-theft: payments stop working once the ring is removed.

Significance

It marks a contactless, secure and convenient way to pay through a wearable device.

Exam angle

  • Startup: Muse Wearables; incubated at IIT-Madras.
  • Network: RuPay; regulator-linked body: NPCI.
  • Technology: NFC with hardware-level tokenisation.

Test yourself

1. Which payment network supports the Ring One wearable from Muse Wearables?

Ring One runs on RuPay.

2. Where are card credentials stored as tokens in the Muse payment ring?

Tokens sit in a Secure Element (SE) chip.

3. Which institute incubated the startup behind India's first wearables payment ecosystem?

Muse Wearables is IIT-Madras incubated.

This topic is part of Daily Current Affairs 15 October 2025 (16 topics).

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