While we’re still hoping for the Oura Ring 4’s release in November 2024, we’ve already learned a few things about what’s to come for the next-generation smart ring. Oura has officially announced a few details about the future of its well-loved wearable, and one of the things we are looking forward to in the future is the contactless payments functionality.

The first three iterations of the Oura Ring have been heavily focusing on health tracking, helping users keep tabs on their sleep, activities, recovery, period, and heart rate, among many others. The smart ring became a global phenomenon during the pandemic, creating a cult following of Hollywood celebrities, world-class athletes, and thought leaders because of its impressive health-monitoring capabilities. For $299, you get a wearable device that allows you to anticipate whether you have COVID-19 or not through monitoring early signs of the disease.

It was the turning point for Oura that it became a crazy popular globally. Several smart ring makers followed suit, releasing smart rings that allow users to keep track of their overall health and wellness. While a lot failed to achieve Oura’s success, we’ve already seen some smart ring brands making headways and could potentially rival Oura’s prominence.

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The third-generation Oura Ring is still a robust device, but it needs to be updated soon. The current Oura Ring was released in November 2021—nearly three years ago! From the design to the functionalities, Oura needs to release a smart ring soon in order to maintain its dominance in the market.

We’ve seen many worthy contenders of Oura already, including the Ultrahuman Ring Air and Circular Ring. And very soon, the market will be graced by rings from tech stalwarts Samsung and Amazfit with the Galaxy Ring and Helio Ring, respectively. It also makes sense for Oura to pick up the pace very soon.

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One of the biggest upgrades Oura can bring for its fourth-generation smart ring is the contactless payment feature or the ability to tap to pay at payment terminals through a smart ring. This feature is not new at all as the UK’s McLear RingPay pioneered it almost a decade ago. However, if Oura decides to integrate contactless payments into the future smart ring, it would be the first time a mainstream device would do so.

This is not the first time we’ve heard about Oura incorporating contactless payments into the smart ring. In May 2023, Oura acquired Proxy, a digital security company that can be used for mobile access in corporate environments as well as contactless payments.

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This is a pivotal decision for the Finnish health tech company as it faces tougher competition with Samsung, Amazfit, and other players. It needs a new major upgrade to give users a reason to use Oura.

If this comes to fruition, Oura would also be the first smart ring for payments to be globally available. At the moment, contactless payment rings are only available in select countries. For instance, McLear RingPay is only available in the UK, Evering in Japan, and K Ring in the EU.

Would you like to see the Oura Ring 4 with contactless payments? Let’s discuss in the comments!

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