In a world of every possible wearable under the sun has been created it’s rare to find one that is both crazy and useful at the very same time.  Bankwest has just announced that very thing – a ring that makes tap and go payments.

The Bankwest Halo is a ring – that you wear on your finger – which Bankwest is calling Australia’s first payment ring.

We’ve had bands that you can attached to a watch, or a wrist band that can be worn in the surf, plus there are your mobile phones and smart watches – but to throw tap and go technology into a ring is pretty darn cool.

Being waterproof, it can be worn all day every day, and being a “dumb” smart payment device it doesn’t require charging – just like your actual tap and go credit or debit card your bank issues.

Bankwest Managing Director Rowan Munchenberg talks about the customer need for changing payment methods  “Customers’ needs are always changing and in today’s digital world they increasingly expect smooth transactions that fit with their lifestyles, whether shopping online or in person.

Nichole Banks, their General Manager, Customer Communications and Brand sees it as pure simplicity  “No more fumbling for your purse or wallet, no need to ensure your phone’s charged in order to pay – it’s a new era in contactless payment.

“We’re very excited to bring this entirely new, wearable payment option to Australia and we hope new and existing customers will come to love the convenience it provides,” she said.

They didn’t just throw it up for fun, Bankwest spent some time trialling a range of wearables before looking at customer feedback and deciding on the Halo  “Our customers’ lives are so varied and this ring offers them complete freedom to pay wherever and however they want. The likes of cyclists, swimmers, surfers and joggers will love the Bankwest Halo’s convenience,” said Nichole.

“Plus, as it’s a ring, something usually that people choose to wear as jewellery, it’s got that little bit of a wow factor too,” she added.

Bankwest customers can get the Halo for $39, with a limited early supply selling at just $29.

We’re not quite sure why everyone using it seems to pay with a clinched fist – surely an open palm is a more natural motion? That said, looks great and very innovative.  A shame they are still neglecting to offer Apple Pay to their customers who are calling for it.