No card or mobile phone... Al Rajhi Bank allows you to pay for purchases with a ring on your finger

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Al Rajhi Bank announced the launch of a smart wearable payment method represented by an electronic ring that allows customers to complete purchases without the need to use bank cards or mobile phones.

The bank explained that the ring works in a similar way to the additional mada card linked to the customer’s current account, as it can be used to make payments by passing it in front of point-of-sale devices that support contactless payment technology.

He added that the new product was designed to provide an easier and more flexible payment experience in daily transactions, as it allows users to carry out purchases quickly and smoothly by simply passing the ring on the payment device, which enhances digital payment options and keeps pace with the development of smart payment solutions.

The ring gives greater freedom while shopping, moving, and performing daily activities, as payments can be made without the need to use a plastic card or mobile phone.

The Al Rajhi Bank ring does not require a battery or charge to make payments, which makes it a practical payment method that is ready to use at any time. The ring is available in different sizes.

The ring provides a secure payment experience based on the security technologies and standards used in global contactless payments.

The fee for issuing an Al Rajhi Bank ring is 150 riyals, and the annual fees are free. If it is lost, damaged, or the password is incorrect 3 times, it will be reissued for a fee of 150 riyals, and the renewal fee is also 150 riyals. The delivery fee is 30 riyals.