Modern technology gives us many things.

Bankwest introduces Halo – Australia’s first payment ring

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Beyonce once sang “if you liked it then you should have put a ring on it” and now Bankwest want you to do the same thing when you want to make tap and go payments with the introduction of Halo.

Halo is Australia’s first payment ring which is worn like a regular ring.

The major difference is that it is linked to your Bankwest account and has a small NFC (near field communication) chip built inside it so you can use it exactly like your card at a tap and go terminal.

All you need to do is make a fist and hold the ring to the terminal and you’ve made a contactless payment.

The Halo ring, which is available in black or white, is also water resistant to a depth of up to 50m so you can take it for a swim or into the surf and it’s backed by Mastercard’s 24/7 fraud protection.

What happens if you lose it? The same thing that happens if you lose your card or your wallet. You can call Bankwest and block the account.

And there’s also that Mastercard protection as well that works 24/7.

The beauty of the Halo – apart from the fact that it looks like a ring – is the fact that you never need to charge it and there’s no app you need to open to compete the transaction.

You just fist bump the terminal – and it works.

If your transaction is more than $100 you’ll need to enter your PIN.

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So this means customers can go for a run, to the gym or into the surf and be able to buy and pay for their coffee or meal without the need to have their phone to wallet handy.

To get hold of a Halo ring you need to be a Bankwest customer – if you’re not it’s is easy to apply for a simple transaction account.

Next up you need to find the right size ring for your finger. You can order a custom ring sizing kit by filling out this form or by visiting a Bankwest branch.

Once you’ve established your ring size, you can choose your colour (black or white) by visiting Bankwest Online banking or dropping in to a branch.

The personalised Halo ring has payment device fee of $39 to manufacture and set it up but Bankwest is releasing a limited number of rings at the introductory price of $29.

There is no charge to receive the ring sizing kit.