The teenage kit is expanding. Rikki, a Spanish company, has launched a smart ring that works as a payment card , promoting access to the financial system for young people.
From the age of 12, any teenager can have a payment ring to manage daily expenses. Without a doubt, the world of digital money and electronic payments is increasingly opening up to teenagers.
Greater autonomy for teenagers
In recent years, contactless payment systems have evolved significantly. This has created a large number of methods that can be used thanks to this technology. One of the most innovative options today is the payment ring, which has positioned itself as an alternative to mobile phones and traditional plastic, allowing users to pay using only their hand.
In this sense, Rikki rings are characterized by the possibility of being linked to any credit or debit card and extending their use to teenage children, who can now pay with complete autonomy. Although control of the account remains with the parents, in order to monitor and educate their children in the responsible use of money.
Nowadays, the use of smart accessories has become common in society. Beyond complementing users' outfits, the utility of smartphones or smart watches is aimed at facilitating many aspects of people's lives.
In the specific case of the Rikki payment ring, it has become popular as one of the most recent innovations in financial wearables. One of the main advantages offered by this product is that it is available for minors; from 12 to 18 years old.
The ring is associated with a bank card created by the parents or legal guardians and through which the teenager can pay and receive money.
Parents can deposit or top up money from the card to the ring account, making it easier for their children to make payments. This type of payment method helps young people to be more organized, and parents to have a practical solution to the adolescent's demand for greater independence in their daily lives.
There is a clear trend towards enabling payment methods so that teenagers can become financially independent, from an increasingly early age. “Rikki’s mission is for our clients to accompany their children’s growth, teaching them to manage their expenses, save and plan for the long term. At the same time, this autonomy that Rikki offers allows teenagers to begin to build their first relationship with money,” explains Elena Yorda, CEO of the company.
It is also a tool that does not require a mobile phone to make payments, and is also waterproof, which allows for its wide use in sports and recreational activities. It is worth noting that it is a lightweight alternative with a sophisticated design. Furthermore, the technology is characterized by offering users the same security as bank cards and is compatible with all cards issued by the EC.
The Rikki ring allows teenagers to carry out everyday transactions without carrying cash. It also offers advantages such as receiving money anytime, anywhere, shopping in any store that accepts contactless payments, transferring money to other people and saving.
How the Rikki Smart Ring Works
Another advantage of the payment ring is that its use does not generate commissions or additional costs. As it is a completely autonomous payment method, the user does not need to be connected to any device to validate the transaction. When paying with Rikki's ring, you just have to bring your finger close to the POS terminal.
Each user can top up the ring balance before making a transaction or choose between automatic or scheduled top-up options. The ring also has a personal PIN, which allows payments of more than 50 euros to be confirmed with the guarantee of security in each transaction.
The ring can be used at any merchant that accepts MasterCard Contactless technology worldwide. Users can purchase the Rikki smart ring through the website web of the company, where you will find all the guidelines on this matter.