Member Exclusive, Payments

Payments Briefing: ‘We want to be the bank that got people into wearables’ – Quontic Bank’s Steve Schnall

  • This week, we discuss Quontic Bank’s new contactless payment ring.
  • We also take a look at Square’s upgraded Square Stand POS system.
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Payments Briefing: ‘We want to be the bank that got people into wearables’ – Quontic Bank’s Steve Schnall

Bling-bling.

Quontic Bank recently launched a tap-to-pay mobile payment ring that customers can link to their checking account and use to make purchases at any POS terminal that accepts contactless payments.

While payment rings have been around for a few years in countries like Australia and the UK, Quontic claims its product is the first-ever contactless payment ring on the US market.

The Quontic Pay Ring is only available for customers who have a Quontic checking account. The bank is offering the ring for free for a limited time, after which it will cost $29.

Quontic says the ring is water and scratch-resistant, and durable enough to get through day-to-day use. It runs without a battery and doesn’t need to charge, and can also be disabled if lost.


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