New Delhi: The National Payments Corporation of India (NPCI) has partnered with Muse Wearables to introduce India’s first wearable payments ecosystem, powered by Muse Wallet and NPCI’s RuPay network. The collaboration enables secure, contactless transactions through Ring One, a smart ring developed entirely in India.
The ecosystem allows users to make instant payments by simply tapping their Ring One on any NFC-enabled POS terminal, no phone, card, or wallet required. Muse Wallet, already live in over 40 countries and supporting nearly 600 banks, now brings its platform to India via RuPay, promoting financial inclusion across Tier-2 and Tier-3 cities.
“At the heart of this ecosystem is Muse Wallet — a deep-tech payments platform that enables tokenised, hardware-level transactions using a Secure Element embedded within Ring One,” said K.L.N. Sai Prasanth, Co-Founder and CEO, Muse Wearables. “We are taking on foreign tech giants in the digital wallet ecosystem by creating a truly sovereign alternative for India.”
How it works:
- Users add their RuPay card in the Muse App via scanning or manual entry.
- Muse Wallet communicates with the card network and issuing bank to generate a unique token.
- The token is securely stored in the Secure Element (SE) inside the ring.
- At an NFC terminal, the SE executes payment without exposing the card number.
- Transactions work only when the ring is worn; removal instantly disables payments.
- If the ring is lost or stolen, the token remains inactive without authentication.
Muse Wallet’s SE stack combines hardware, firmware, and cloud infrastructure built to global banking standards, making it India’s first Secure Element Tokenisation Platform. The innovation, fully developed in India, exemplifies a “Make in India, Made for the World” achievement, with plans to onboard more banks and expand wearable payments nationwide.
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