At the FINOPOLIS 2019 Information Financial Technology Forum, the Russian Agricultural Bank introduced a simplified way to activate Pay Ring payment rings. Now linking the device to the client’s bank account is possible not only at the Bank’s offices, but also through the RSHB mobile workstations using the Easy Front application.
Mastercard RSHB payment rings were developed jointly with Pay Ring and were launched in January 2019. This device is an alternative form of a plastic card, inside it there is a chip module that allows you to pay for purchases using NFC technology. Financial operations are carried out by wearing a ring on your finger to a terminal that supports the contactless card payment function.
Before, it was necessary to visit the office of Russian Agricultural Bank JSC after purchasing a ringto open a bank account and link the ring to a current account. Now, clients have the opportunity to do this faster.Open an account, issue a card, apply for a loan, activate a payment ring - today all this at the Russian Agricultural Bank can be done without visiting the office using the Easy Front RSHB mobile solution. Now the office functions are available through a tablet, in which the Bank specialist can come to the client anywhere: to the store, cafe, factories, to the Pension Fund department, etc.
“The payment ring is a modern universal means for contactless payment for purchases, the convenience of use of which was highly appreciated by the customers of the Agricultural Bank. With the introduction of the Easy Front, the acquisition of the device has become even more convenient. Our customers will be able to save time visiting the office and activate the ring near their home or work. Russian Agricultural Bank always prioritizes the quality and availability of banking products,”said Ekaterina Romankova, Deputy Chairman of the Board of the Russian Agricultural Bank.
“In close cooperation with our key partner, Russian Agricultural Bank, we were able to create a unique product, the convenience and ease of use of which is many times greater than other payment instruments. Cooperation with RSHB helps us to develop and introduce new technologies in the banking sector. I am sure that the joint work with the Bank will be long-term and fruitful,”said Leonid Phillipov, CEO of Pay Ring.
The RSHB website presents four design options for rings: smooth and glossy surface, smooth matte surface, a glossy surface and faceting along external contours, and with a faceted glossy surface. Rings are made of black ceramic. Custom design rings are available, with options of precious metals and stones.