NPCI Powers Muse Wearables’ Smart Ring: India’s Swadeshi Fintech Leap

Smart ring revolutionizes digital payments

Muse Wearables, a Bengaluru-based deep-tech startup incubated at IIT Madras, has teamed up with the National Payments Corporation of India (NPCI) to unveil India’s first wearable payments ecosystem. At the heart of this innovation is “Ring One,” a sleek smart ring that allows users to make instant, secure payments by simply tapping on any NFC-enabled point-of-sale terminal.

Unlike traditional payment methods, Ring One doesn’t require a phone, card, or wallet. The ring is linked to the Muse Wallet and powered by NPCI’s RuPay network, offering a sovereign alternative to foreign digital wallets. Payments are enabled only when the ring is worn, adding an extra layer of security.

Swadeshi tech meets global standards

The launch of Ring One aligns with India’s push for indigenous innovation under the Atmanirbhar Bharat initiative. Muse Wearables has built the entire ecosystem—from hardware to software—within India, using tokenized payment architecture and encrypted NFC protocols.

The company aims to scale the solution nationwide, targeting urban millennials and tech-savvy professionals who seek convenience without compromising security. The ring is also designed to be water-resistant and durable, making it suitable for everyday use.

Key highlights:
- Muse Wearables partners with NPCI to launch Ring One  
- India’s first wearable payment ecosystem powered by RuPay  
- Ring enables secure NFC payments without phone or card  
- Payments work only when the ring is worn  
- Entire ecosystem built in India using tokenized architecture  

Market impact and future roadmap

Industry experts believe Ring One could redefine contactless payments in India, especially in retail, hospitality, and transit sectors. With over 35 million downloads of Muse Wallet already, the company is well-positioned to drive adoption and expand its wearable tech portfolio.

Muse Wearables plans to introduce additional form factors and integrate loyalty programs, health tracking, and transit passes into future versions of the ring.

Sources: Economic Times, The Hindu, Fortune India