Kerv, the London fintech startup, reaches its £77k funding goal on crowd-funding site, Kickstarter, with two weeks of its month-long campaign remaining.
Kerv wearers can make instant contactless payments of £30 or lower with a single gesture – no card, PIN, or paired smartphone required. Accepted anywhere in the world that takes contactless payments, Kerv is always on hand, removing the need to carry a wallet, purse, cash or cards – perfect for those with active lifestyles. The Kerv ring never needs charging and doesn’t need to be paired with a smartphone to work.
Kerv seamlessly blends form with function, creating a beautiful and understated piece of wearable tech which, uniquely, looks and feels nothing like a piece of wearable tech. Available in black or white, Kerv’s sleek outer shell is engineered from zirconia ceramic, a material most often found in nuclear reactors and spacecraft. Zirconia is lightweight, hypoallergenic and one of the most scratch-resistant materials on the planet, necessary for an item of functional jewellery designed to be worn all day, every day. Kerv is also waterproof.
Beyond retail payments, Kerv can be used on the Transport for London network (and other global cities’ mass transit systems). Kerv also offers instant sharing of emergency, medical or contact details at the tap of an NFC-enabled phone, plus one-touch access via compatible NFC locks and security systems – which means even more pocket junk can be left at home.
“This is a key moment for us, because it gives us the confidence that we have a product that can stand up against the big players in the financial industry, who have so far only been dipping their toes into wearable contactless payments solutions,” says Kerv founder, Philip Campbell. “We’re ready to jump in with a splash.”
Campbell continues: “Hitting our funding target with another two weeks still to go is an amazing position to be in. We’ve proved that there’s a demand for a contactless payment ring, and that our backers like the way we’re tackling it - plus it gives us the capital we need to move forward. Over the next two weeks we hope to raise even further funding on Kickstarter, so that we can introduce six additional inner-band colours - along with the current black and white exteriors - to make Kerv rings even more special and personal.”
Kerv Chairman David Hunter adds: “The response we’ve had to our Kickstarter campaign has been overwhelming, with our backers offering some extremely useful insights and suggestions along the way. Having such direct communication with our inaugural customer base has been invaluable, and we hope to maintain that open dialogue as a key pillar of our brand and business.”
Describing the origins of Kerv, Campbell said, “Currently, wearable payment devices are either eye-wateringly expensive or thoroughly unattractive. But the biggest issue I have is that they’re all worn on the wrist, which has to be placed flat against the contactless reader in a way that feels extremely unnatural and awkward. With a creative background – plus eight years' experience in payments – I felt we could do better. So we did, designing Kerv to be the most ergonomic, natural and convenient contactless payment method possible.”
Kerv, the world’s first contactless payment ring, launched its crowdfunding campaign on Kickstarter on Friday September 25th, successfully reached its £77k funding goal on October 12th and will be finishing at 11pm BST on Monday October 26th.
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About Kerv, the world's first contactless payment ring:
- Make contactless NFC payments up to £30 (contactless payments limits vary by territory)
- Accepted at over 38 million locations worldwide
- Switch rings on and off, manage funds and receive transaction alerts via app, SMS or website
- Link an optional contactless prepaid card to a Kerv account for higher-value transactions
- The Kerv account is governed by FCA regulations for the issuance of e-money
- Tap-in on tubes, trains and buses in the Transport for London network (and approx 10 other transport networks around the world)
- Share personal data – such as contact, emergency or medical details – at the touch of an NFC-enabled smartphone
- Access home, office or lockers via compatible NFC-enabled locks
- Never needs charging and does not need to be paired with a smartphone to operate
- Waterproof and scratchproof
- Designed for men and women, Kerv is available in two styles and a wide range of sizes
- Estimated retail price is £49.99