Token is a new smart ring that doesn’t count calories or steps, but instead it protects your identity online and lets you make mobile payments securely. It also can unlock doors and remember your passwords, all with an extra level of security. Even if you lose it, no one else will be able to use the Token Ring or access the information on it but you.
What makes Token different than the other smart wearables out there is that the ring does more than just put payment power on your finger. The main focus with the ring is on security and with providing two forms of authentication to verify your identity, instead of just another physical extension of your credit card.
Token’s built-in fingerprint sensor lets the ring act as your biometric second factor sign-in for all of the things mentioned up above. Token has a corresponding app for iOS, Android, macOS, and Windows 10, but you only need to use it once to add all of your credentials and authenticate your fingerprint like you would on your smartphone.
When you slip on the ring it will begin to scan your fingerprint in the process. Token will continuously verify your identity. Plus, if you take the ring off the connection is broken, meaning anyone else who attempts to use your Token will be stopped without your fingerprint.
Of course, Token won’t work everywhere at first (once it ships in December), but the company has already secured partnerships with top players to ensure the ring will work in as many real-life situations as possible. Token is now working with Visa and MasterCard to support tap-to-pay.
Travelers will also be able to wave their rings in front of transit card scanners to pay for subway fares in 40 cities around the world (though not in New York City, which still relies on swipe cards). Token expects an additional 20 transit systems will be compatible in 2018.
Token is also now producing its own NFC deadbolt so you can lock and unlock your front door just by tapping the ring. The company is going to be making a kit for your car so you can unlock its doors and activate the smart start button, no key required there either.
The ring will come in U.S. sizes 6-12 and will cost around $250 for the sterling silver, but the 14K rose gold model and black rhodium color will be $300. There are going to be three different bundles at launch: $350 for Token and Token Lock; $350 for Token and Token Car Plug; and $400 for all three. They’re all available for pre-order now at Tokenize.