K Ring New Statement News

Today we’re pleased to announce the release of a clearer, more intuitive and informative virtual prepaid Mastercard® account statement.

These improvements mean that customers can now more easily see what funds have been coming into their accounts and what funds have been leaving their accounts – and via which merchants – with no unnecessary account activity data to clutter the statement.

Until now, we’ve been reliant on the way a third-party provider originally configured their systems to provide us with account activity data, which meant that the statement was never as clear as we wanted. We’ve now been able to implement technical development to clean up the statement to make it considerably more user-friendly.

From today, when logged in to an account on the K Ring website (desktop or mobile), customers will now see a single line item for each transaction on the statement. We’ve also improved the presentation of merchant data, making it clearer as to where a transaction was made.

These statement improvements are part of the work we’re doing in developing the K Ring mobile app, which has now completed pre-release testing and has been submitted for approval with Apple and Google prior to general release. The forthcoming mobile app takes the statement usability even further, providing an optional detailed view of each transaction, including:

  • Merchant name
  • Merchant address
  • Merchant classification
  • Transaction amount
  • Transaction date
  • Transaction status
  • Device used
  • Available balance after transaction

These improvements to the online statement – and the release of the K Ring mobile app – are a major step forward in providing customers with the simple and convenient user experience expected with the world’s first contactless payment ring.

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14 Sep 2021