A new smart payment ring has been launched in South Africa – and it’s built by South Africans for South Africans.
In this episode of the TechCentral Show (TCS), TechCentral editor Duncan McLeod chats to VezoPay founders Jake Pinkus and Lawrence Baker about the launch of the ring – it’s available in three variants at launch – and what was behind the idea.
In the interview, they not only explain why they decided to build a payment ring, but also why they’re entering what could soon become a highly competitive market globally, with both Samsung Electronics and Apple expected to launch their own smart rings later this year.
Pinkus and Lawrence unpack:
- How long they’ve been working on the payment ring, and where the idea came from;
- How much research and development was involved, and who’s backing the innovation;
- How the technology works, and what exactly is inside the ring;
- The various options available at launch;
- How it works without having to be charged;
- How the security features work (without giving the game away);
- How VezoPay is working with South African banks;
- Whether the ring can be used for ticketing (concerts, Gautrain, etc);
- How much it costs;
- The potential competition from Samsung and Apple; and
- VezoPay’s plans to expand beyond South Africa’s borders.
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