Bankwest launches new Halo payment ring
If you wanna buy it then you better put a ring on it.
Whether you’re going for a jog, taking a dip at the beach or heading to the bar with your mates, Bankwest has launched its new Halo ring to make payments that little bit easier.
Rather than using your card or phone, you can pop the ring on and give the contactless terminal a little fist bump to make a payment. It’s linked to your Bankwest account and uses the same NFC technology that applies to all Mastercard PayPass transactions. It's also water resistant up to 50m and doesn’t require an app or charger to work, meaning you take it pretty much everywhere.
The Halo is guarded by the same Zero Liability Protection as your other Bankwest debit cards. So if your ring is lost or stolen, you can call Bankwest to block your account, just as you would if you lost your card. At the moment, you can only link the Halo to Bankwest transaction accounts, so you’re out of luck if you wanted to tap and pay with your credit card.
The ring will usually set you back $39 which accounts for the manufacture, use and setup. To celebrate the launch though, there are a limited number of rings up for grabs for the cheaper price of $29. Bankwest doesn’t specify what this “limited number is”, so you might want to jump on it fast if you want to save a few bucks.
Want to get your hands on one? You just need to have an eligible transaction account and size your finger so that your customised Halo ring fits perfectly. Then you can order your ring by logging into your Bankwest Online Banking account, via the Bankwest website or at your closest Bankwest store.
The Bankwest Halo is the first of its kind in Australia, but payment rings have been launched overseas in the last few years. This news also comes four months after Bankwest announced that it was trialling three new types of wearable payments including a key ring fob, a fitness-style wristband and a clip that you could attach to a wristband or watch band.
Latest fintech headlines
Picture: Bankwest
