Contactless Transaction Using Wearable Ring with Biometric Fingerprint Security Feature

Card transaction is one of the most widely used transaction methods in the payment industry. There are more than 50.6 million credit cards and 840.6 million debit cards in India. These cards are so confidential that special care has to be taken while carrying and handling these cards. Carrying these cards everywhere and every time is fewer burdens on the user. Latest near field communication (NFC) enabled smart cards are not asking for personal identification number (PIN) while doing transaction so this is considered as another problem. If such NFC enabled card is stolen then there will be a huge loss. The intention behind this paper is to showcase the idea to solve the above problems in a more secured way. This research problem motivates to come with an appropriate solution with the idea of the wearable ring which has a smart card chip installed in it and has biometric fingerprint scanner support. Anyone can wear this ring so no burden to carry bank cards. It has biometric fingerprint sensor so without user’s authentication transaction will not be carried out, this is the great advantage over existing card payments and rings. This is the proposed idea with properly tested on paper considering parameters like reading range of NFC communication frequency, power source needs to run biometric fingerprint sensor and NFC tag, personalize the MasterCard applet in-ring etc. Future scope of this idea is the actual implementation of hardware that brings the new product in the market.