What are Money Carer’s Payment Rings, and how do they work?
Money Carer’s payment rings are a simple, secure and dignified way to help people manage day-to-day spending – without the need for cash, cards or PINs. Designed with vulnerable people in mind, they offer independence for the supported person, and peace of mind for families and professionals.
What is a Payment Ring?
A payment ring is a small, wearable device that works just like any contactless bank card. By gently tapping your hand near a card reader, you can pay instantly. So, even if you’ve forgotten your wallet or phone, you won’t run into any difficulty.
It’s an ideal solution for people who may find handling money or cards difficult, or who simply want a safer way to pay for everyday items. This could be anything from groceries to transport.
How do Payment Rings work?
Contactless Technology
Inside every ring is a tiny NFC (Near Field Communication) chip – the same technology used in every modern, contactless card. When you hold the ring near a payment terminal, it securely transfers payment information, completing the transaction in seconds.
As payment rings are battery-free, they never need charging. In fact, they’re powered by the card machine itself when you want to make a payment!
For those with mobility challenges, this feature can be especially beneficial. Once you’ve put the ring on, you won’t need to take it off unless it’s absolutely necessary. By staying waterproof up to 40 feet, this even applies to swimming or showering!
Secure and Private
Your real card details are never stored in the ring. Instead, our payment rings use a secure digital ‘token’, which replaces your card number with an encrypted code. This protects sensitive information, and ensures that your data remains safe, even in the event of loss or theft.
Easy Set-Up and Management
You can easily link your payment ring to a prepaid or managed account. This makes them ideal to use alongside Money Carer’s managed carer banking system. Carers or family members can add funds, monitor spending and support the person they care for – while still promoting their independence and autonomy.
Why Payment Rings matter
For people living with disabilities and other relevant challenges, handling money can sometimes be stressful or unsafe. Payment rings offer a practical and empowering alternative – helping individuals to maintain confidence, dignity and independence.
For carers and families, they can provide peace of mind. Authorised parties can monitor spending and set limits accordingly, without risking the loss of any cash or cards.
At Money Carer, our mission is to make financial independence and inclusion accessible to everyone. We developed our payment rings as a way to combine cutting-edge technology with compassionate design – helping people stay safe, confident and in control.
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Appointeeship, Deputyship, Power of Attorney, Money Management, Banking, Families, Payment Wearables