About this project
ENDING IN JUST 1 HOUR
WE'RE FUNDED SO THIS IS YOUR LAST CHANCE TO GET THE WORLD'S FIRST CONTACTLESS PAYMENT RING ....FIRST!
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Carrying a wallet or a purse can sometimes be impractical, uncomfortable or just downright risky. Ask joggers and cyclists. Or surfers and sunbathers. Or clubbers and festival folk … or even naturists – because you don't get many pockets in a birthday suit.
So we made Kerv, the world's first contactless payments ring. Now you can leave your wallets, purses, phones and smartwatches at home and still pay for stuff … with a single gesture.
You can use Kerv anywhere in the world that displays the contactless payment symbol (above), which was over 38 million locations, last count.
Kerv - as featured on...
Give me facts – fast!
- Use Kerv to pay anywhere in the world that accepts contactless payments
- Make contactless payments up to £30 (Euro-zone €25, US $25, Canada $100, Australia $100, New Zealand $80, Ireland €15)
- Auto top-up guarantees you'll always be able to pay
- Get an optional Kerv MasterCard® for higher-value transactions (it's a prepaid card, not a credit card, so there's no risk of getting into debt)
- Connect as many Kerv rings and cards as you want to the same online account
- Switch your ring (or card) off and on in your account settings – manually or with a timer
- Perfect way to avoid card clash on London Transport
Why would I use Kerv?
Well, here's a prime example: going for a run? All you need is Kerv – and a solid pair of running shoes, obviously. Accidentally run too far and need to get the bus back? Or a cab? Kerv will get that. Burnt off too many calories by mistake? Why not use Kerv to buy an energy bar on the way home? It's waterproof, so if running's not your thing (and we'll understand if it isn't) then head to the pool instead.
So how do I actually make a payment with Kerv?
Glad you asked. Just make a gesture over the contactless payment terminal in-store (or over an Oyster Card reader if you're on London transport) and listen out for the beep – job done. Then listen out for the gasps of amazement from everyone around you. Seriously.
Cool. How does it work?
Kerv contains a secure NFC contactless payment chip which is activated when brought close to a contactless reader – at retailers, in taxis or on public transport. The card reader treats Kerv in exactly the same way it would a contactless payment card, reading the encrypted data on the chip and authorising the transaction. Funds are withdrawn from your Kerv prepaid account and transaction details are logged, always keeping you on top of your balance via the Kerv app or the secure website.
Tell me about the account behind Kerv
- Load it direct from your bank account, from a debit card or from a credit card
- Send money to friends and family via electronic transfer
- Pay bills
- Make recurring payments by direct debit and standing order
- Filter your statement, search within it and add your own notes to transactions
- Set spending limits and prohibit the purchase of certain items
- Set up transaction alerts and balance notifications – to be sent straight to your phone
- Connect multiple rings and cards to the same online account
- Switch your rings and cards on and off for extra security – manually or on timers
Is Kerv secure?
Apart from paying, what else can I do with Kerv?
What’s Kerv made of?
Kerv’s sleek outer shell is made from zirconia technical ceramic, which is lightweight, hypoallergenic and one of the hardest and most scratch-resistant materials on the planet. NASA uses it. So do the guys that build nuclear reactors. And dentists. And surgeons. If it’s good enough for them, it’s good enough for us. Besides, it looks and feels fantastic, so we’d probably be using it anyway…
On the inside, Kerv is finished with a gorgeously lustrous, inert hard resin, forming a waterproof seal over the electronic components. The resin is contoured in a “comfort fit” profile, which means you can wear Kerv all day, every day and you’ll barely notice it’s there.
Explore a 3D model of Kerv - just press play
Will you be making Kerv in my size?
Initially, we’ll be offering the ten most popular ring sizes – across both men and women – so we can accommodate the most people with this campaign. You can wear Kerv on any finger you like – including your thumb (or your toes, if you’ve got decent circus skills) – so one of them’s bound to fit somewhere!
We’ll be asking you all for your ring sizes after you’ve made your pledge, so if it turns out that there’s enough demand for sizes different to what we’re offering below, we’ll do our best to address it.
UK sizes: M, N, P, R, S, T, U, V, X, Y
See this handy ring size conversion chart to see how UK sizes translate to the rest of the world.
Meet Team Kerv
We're an experienced group with a successful track record, and we've been working together for many years.
Our experience covers the payments, digital, creative and electrical engineering industries, with a number of notable achievements to date:
- Acquiring relevant electronic money (e-money) licenses with the Financial Conduct Authority (FCA), UK
- Securing principal membership of MasterCard
- Passporting e-money licenses into Europe's 35 SEPA regions
- UK launch of the first contactless payment watch
- European launch of first ‘app controlled’ contactless payment solution for iPhone 3,4 & 5 (via third-party hardware)
- Implementation of first NFC form factors (contactless watches and phones) to be accepted on Transport for London
- Launching and managing payment programmes in 150+ countries
- Multiple consecutive Queen's Awards for Enterprise
- Numerous payment industry awards
The greatest challenge in our journey (so far) has been designing an NFC antenna to work to payment industry standards – whilst fitting inside something as small as a ring. And not just any old ring – one that looks and feels good, too. Our first proof of concept worked really well, but it wasn't something you'd actually want to wear (which kind of defeated the object of the exercise).
Throughout the R&D process we were adamant that we were primarily designing a piece of wearable technology that you'd be proud to wear – rather than be embarrassed to be caught wearing. Our goal has always been to add functionality to fashion rather than the other way around. Nobody wants to wear ugly jewellery, it's as simple as that.
So where are you guys at with all this, then?We've done most of the hard work already: engineering the NFC antenna, building the digital payments platform, designing the web interface and partnering with the right manufacturers, suppliers and organisations.
The next step is to take Kerv to production. Components, tooling, manufacturing and assembly all add up (especially when making rings in multiple sizes) – and this is where this Kickstarter campaign comes in. It allows us to deliver mass production efficiently and without wastage.
How will you be using Kickstarter funds?
Stretch Goals - 90K Goal reached!!!
Delivery of Rewards
Risks and challenges
When you're bringing a new product to market, you can't plan for the unexpected (especially when it's the first product of its kind), but you can certainly plan to mitigate the unexpected: we've run test batches using all the manufacturing and assembly processes involved (all in the UK); we've done shipping dry-runs with our suppliers and manufacturers in China; we've sourced and tested the electronic components, and we know their availability and lead times. We know how many rings we'll need to make if we reach our target on Kickstarter – and we know how to make them. Basically, we know who's doing what, how long it all takes and when it's all needed by to deliver on time and make you guys happy.
The primary risk is moving from test batches to large volume production runs. Kerv must consistently meet high technical standards to ensure it works first time, every time. We will need to test and verify that the high-volume assembly process maintains those standards. Any changes involved in the production process may delay our schedule, due to the requirement to re-test prior to resuming production.
We'll be keeping you up to date at every stage, backers, because this is a team effort – and you're an integral part of that team.Learn about accountability on Kickstarter
Yes, the app will be available on both iOS and Android. Although it will be a smoother experience, you don't require the app to be able to use the Kerv ring as all the functionality will also be available from the Kerv website (via secure account portal)
You will be able to use the Kerv ring to make a contactless payment anywhere in the world that accepts contactless payments. The number of contactless terminals is growing rapidly. In 2017 it is estimated it will be 44.6m (was 6.7m in 2012)
No the ring does not have a battery, nor does it ever need charging.
This is not dissimilar to your debit or credit cards.
The app and the ring are not directly connected to each other - hence there is no bluetooth connection etc. The app shows the status of the Kerv account, which shows details of all transactions, current balance, and options to configure the useage of the ring i.e. to enable or disable the ring to make transactions.
You can report the ring lost or stolen 24/7 via the app, website, or phoneline. All funds on the account will be protected.
The ring is issued to you personally - as it is a financial instrument, you need to be careful to look after it (as you would a credit or debit card). You can lock the ring (so no payments can be made with it) via the app, or website. You can also report it lost or stolen 24/7 and all your money would be protected.
When you first register your Kerv ring, you will need to create an account. You can deposit funds to this account from a range of methods, including debit / credit card, bank transfer and other methods which will be specific to your country.
You can also configure your account to request funds from a specific payment method, such as a debit card at the time of a transaction.
You can set multiple funding methods, and the order in which funds are requested i.e.
1) Debit card
2) Credit card
3) Bank account
The end user will always be protected from fraudulent activity on their account and funds would be restored from any fraudulent activity.
If fraud is discovered, it may be appropriate for us to replace your ring.
We do not intend to charge our KS backers for a ring that needs to be replaced as a result of fraud, or is stolen.
However, we reserve the right to limit the number of times we would offer a free replacement.
We will support the following load methods:
Debit card, bank transfer (free)
Credit card, PayPal (these will have a fee to load)
We will add additional load methods in the future and will announce them in due course. We will shortly be posting more information about the account functions and fees on our website.
Any reward that includes a ring will be shipped from the UK by tracked postage, which will require signature on delivery. We felt this was important given this is a financial instrument.
Yes each ring will have an expiry date, expected to be 3 years from the date of issue. You will be re-issued a new ring 30 days prior to expiry. As a Kickstarter backer, you will receive your new ring free of charge. (we will cover cost of postage).
There are no monthly fees to keep the account open, use the app, or other services.
There will be fees for some services, such as selected load methods (Paypal, credit card etc) but it will be possible to load the account and make transactions with it for free.
You will be able to contact our customer services via: Facebook, Twitter, online chat, email and of course...good old fashioned phone.
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