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Tech fans watching the Euros this summer might have noticed that the England team were all wearing Oura smart rings. These small titanium rings allow the wearer to monitor activity and a wide range of biometric data, from advanced heart rate variability and cardiovascular age to skin temperature and even reproductive cycles. Sadly, smart rings were not enough to secure the team’s first tournament win in 58 years.
In recent years, these smaller tech wearables have been loved by celebrities, sporting stars, and even royalty, but they are about to go mainstream. Samsung has revealed details of its Galaxy Ring, which will be available on July 24th for $400.
Many have spoken about the benefits of seven days of battery life and the health tracking abilities around activity, heart rate, sleep, and skin temperature. Tech outlets have mentioned the ring patent war between Samsung and Oura.
But the one thing that appears to have been missed is that the Samsung Galaxy Ring will not let wearers make NFC payments. Will this prove to be a big misstep by the tech giant?
Key Takeaways
- Samsung smart ring does not support NFC contactless payments.
- On the other side, Apple is rumored to be working on a smart ring that supports Apple Pay.
- Will mobile payments be enough for people to replace their smartwatch with a smart ring?
- The future of tech wearables might include more subscriptions.
The Galaxy Ring: High Cost, No NFC Payment—Is It Worth It?
In the world of tech wearables, less is becoming more. The smartphone has replaced our wallets or purses, and smart watches enabled users to keep their phones in their pockets. But having yet another device to charge every day quickly became the epitome of a first-world problem.
The smart ring provides a more discreet alternative for those interested in crucial health data without needing a bulky or unattractive smartwatch. Oura was the first to gain traction, but it put off mainstream users with its need for another subscription.
For many Samsung users, the ability to make payments from the highly anticipated Galaxy Ring was at the top of their wishlists. However, users must wait for the next generation before their wish is granted.
Also, how the hell does the Galaxy Ring not have NFC for payments? What a missed opportunity to stomp out the competition from Oura ring with a differentiating feature. Really disappointing.
— Jeff Springer (@jspring86az) July 11, 2024
If we look beyond the big presentation at Samsung’s Unpacked 2024 event, the Galaxy Ring arguably feels like a digital upgrade of the Emperor’s New Clothes fable. $400 for a 2-to-3-gram device with features similar to a much cheaper smartwatch (which does support contactless payments) makes it a difficult sell.
Mike Murphy from IBM Research tweeted that if the Galaxy Ring supported contactless payments, he would ditch his Apple Watch. But herein lies the big problem that the tech media is not talking about. The Galaxy Ring does not support NFC or work with iPhones, which will be a deal breaker for many. So, where does this leave the new wearable?
if this could make payments, I'd ditch my apple watch https://t.co/N5AzQWn9FE
— Mike Murphy (@mcwm) July 10, 2024
Free Features Now, Subscription Services Later?
Speaking to the media at Samsung’s Unpacked event, Dr. Hon Pak, leading Samsung’s Digital Health Team, reassured users that the essential features available today will remain free, emphasizing Samsung’s intent to maintain the integrity of their initial offer. However, he does not dismiss the potential for future premium services if they significantly enhance user value.
“Should we charge a subscription? Maybe, it’s a consideration.”
For instance, a hypothetical partnership with Walgreens to facilitate prescription management could justify a premium, suggesting Samsung’s openness to evolving its business model based on added functionalities that exceed current offerings.
Reading between the lines, Samsung’s strategy suggests leveraging the appeal of no initial subscription fees to attract users to its wearables while keeping the possibility of introducing premium services as part of future enhancements open.
This approach could give Samsung flexibility in scaling its service offerings in line with evolving consumer expectations and technological advancements. But are users ready to pay $400 for a device that eventually tricks them into another subscription?
Can Apple Deliver a Smart Ring That Pays?
Predictably, Apple is also heavily rumored to be working on the Apple Ring, but online speculation suggests it will be launched at a price similar to the Galaxy Ring. However, it’s also expected to support mobile payments via Apple Pay, unique caller identification, and sleep and fitness tracking.
Like Samsung, it would make sense for Apple to follow a similar strategy and lock premium features behind its Apple Fitness+ package. But, again, are users ready to pay $400 for a device that eventually tricks them into another subscription?
If Apple sticks to its “be best, not first” motto and delivers mobile payments from its Apple Ring, things could get quite interesting in this emerging tech wearables market. However, there have been no official announcements from Apple, so everything is speculation for now.
The Bottom Line
The big selling point of the Samsung Galaxy Ring is that, unlike Oura, none of its tracking metrics or unique AI energy scores will be locked behind a subscription. You’ll pay for the smart ring, and that’s all. Ironically, the one feature many Samsung fans were hoping for is to use their new wearable to make payments.
The future of tech wearables looks destined to clash with users suffering from subscription fatigue. There is also an increasing concern about big tech tracking our every move, hours we sleep, and even our heartbeat, only to sell our data back to us.
I want to pay for something using a smart ring because it would be a cool feature. But the question we should ask is, where does all this take us?
