Muse Wearables, a start-up incubated at IIT-Madras, has collaborated with the National Payments Corporation of India (NPCI) to introduce India's inaugural wearable payments ecosystem.

The innovative ecosystem enables users to conduct immediate, secure payments simply by tapping their smart ring called "Ring One" on any NFC (near field communication) payment terminal—no need for a phone, card, or wallet.
Based in Bangalore and operating in the US, Europe, and other areas, Muse Wearables is a 200-strong deep-tech team focused on designing and producing innovative products.

We are challenging international tech giants in the digital wallet landscape by developing a genuinely independent option for India. This demonstrates that top-tier technology can be developed right here in India.

"With Muse Wallet, we are simplifying cashless transactions." "Over the next two years, our goal is to allow millions of RuPay cardholders to enjoy the ease of wearable payments," stated KLN Sai Prasanth, Co-Founder and CEO of Muse Wearables.

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Muse Wallet allows any RuPay credit or debit card to be transformed into a secure digital token and saved directly within a tamper-evident Secure Element (SE) chip, which is the same type of hardware security utilized in bank cards and passports, he noted.

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This guarantees total segregation of sensitive credentials from the phone's OS or apps.

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Expanding on the technology of this product, Prathyusha Kamarajugadda, Co-Founder and COO of Muse Wearables, stated, "We are creating India's inaugural Secure Element Tokenisation Platform, allowing users to link any RuPay card and make payments instantly, no phone, no wallet, just a tap of your ring."

"It is a moment of pride to witness an idea originating in India establish a new standard for personal technology worldwide," Prathyusha stated.