The MULTOS Consortium, a group of organizations that are focused on the promotion and development of the MULTOS specifications, revealed that McLEAR, a technology firm supplying smart payment rings has joined as a Partner Member.
MULTOS is a security technology for all-digital devices offering a high level of security and flexibility. As a secure micro-controller or a crypto co-processor, MULTOS aims to protect smart cards for handling payments and identity, wearables and various other connected devices.
The Consortium includes global firms that are well-respected in their respective fields of secure payments, identity, IoT, IT, and digital or online security. These members form the heart or the core of the MULTOS ecosystem and as a member, McLEAR may take part in the MULTOS Business and Technical Architecture Groups, enabling them to make contributions towards the development and growth of MULTOS, while benefiting from the Consortium’s marketing, technical, and networking resources.
Contactless is quickly becoming the preferred method of payments globally and is fast becoming the leading application in-demand by clients for NFC wearable tech.
Unsurprisingly, there are various supporting wearable devices currently available. Some of the most convenient and consumer-friendly are the passive type that don’t need charging or batteries in order to power them and function in a similar way to contactless cards.
Chips like MULTOS secure elements and other types are often added to wearable payment devices to offer the secure storage and processing of payment digital credentials. Convenience, user value and security are all expected to continue promoting the steady growth of this market.
McLEAR is a company that initially led the design and marketing of smart payment ring products and services. Having evolved over a period of time and through consumer feedback, their feature-rich RingPay product and app are enabling lifestyle-focused clients to enhance the convenience of their daily payment interactions. Clients may also access various other features such as financial, social, and personal benefits.
Daniel Blondell, company Chief Operating Officer, stated:
“Our Payment Ring was born from a need of ‘seamless’ convenience, and that has been the backbone of our thinking ever since. RingPay by McLEAR gives its users a unique user experience with convenience at the forefront which is hard to describe until you use it. The easiest way to describe this is to think about all the things you carry on a typical day, car keys, house keys, bank cards, office pass, transit pass…, then imagine all those things being combined in a single device that you simply wear on your finger.”
“That’s our vision and payment is the start of that journey. We welcome the support of MULTOS and are delighted to join the established global MULTOS Consortium and look forward to collaborating to assist with our mission and vision for future evolution.”
Paul Wilson, Commercial Manager of the MULTOS Consortium, remarked:
“MULTOS has a long heritage in securing contactless payments around the world and has often been employed to support innovative and evolving applications making it an ideal technology for advanced wearable devices. McLEAR are a clear leader in the passive payment wearables market and are a welcomed partner to the MULTOS Consortium and ecosystem. Often considered as having a high ‘cool factor’, life-style enhancing technology such as McLEAR’s will no doubt become increasingly mainstream in the years to come, and we are delighted to support McLEAR with their business going forward.”