Rajshree Upadhyaya | Business Remedies | To address the everyday challenges in digital transactions in India, Vijay Khubchandani launched the smart payment ring brand 7 Ring and carved a niche for himself. The journey of 7 Ring Innovation Private Limited began in 2018, when Vijay Vasudev Khubchandani officially incorporated the business on April 23 in Mumbai. However, the idea had been taking shape much earlier, based on a simple yet powerful observation: despite the rise of digital payments in India, people still relied heavily on carrying phones, wallets, or cards.
He envisioned a future where payments would become seamless-almost invisible-and this vision laid the foundation of 7 Ring. Combining fintech with wearable technology, 7 Ring Innovations aimed to create a solution that would redefine convenience. This vision materialized through its flagship offering, the 7 Ring, a contactless payment wearable designed to enable users to make payments with a simple tap, without the need for a phone or card. Built on Near Field Communication (NFC) technology, the ring works smoothly with supported payment terminals and is linked to a prepaid wallet integrated with India’s UPI ecosystem, enabling fast and secure transactions. What sets the 7 Ring product apart is not just innovation but also practicality. The 7 Ring does not require charging or a battery, as it draws power directly from the payment terminal during transactions. This makes it a highly convenient everyday accessory, eliminating concerns about battery life or connectivity. Crafted using durable materials like zirconia ceramic, the ring is waterproof and designed for regular use, blending technology with lifestyle in a subtle yet impactful way.
Focus on Developing a Tap-and-Pay Wearable Payment Ecosystem
The founding team includes Vijay Khubchandani, along with Mehak Savla and Karthik Menon. Together, they brought in experts from different domains to build the 7 Ring ecosystem. Their focus extended beyond creating a single device to developing a complete tap-and-pay wearable payment ecosystem that could scale with India’s rapidly growing digital payments landscape. Strategic integration with payment networks like RuPay further strengthened the product’s compatibility with India’s regulated financial infrastructure. 7 Ring gained significant attention after appearing on Shark Tank India Season 4, where the founders presented their vision of simplifying payments. They initially sought Rs. 75 lakh for 1% equity but eventually secured a deal of Rs. 75 lakh for 3% equity, reflecting strong investor interest and confidence in the concept. The pitch highlighted how wearable payments could become the next step in India’s digital transaction evolution, particularly for high-frequency use cases such as transit, retail, and quick purchases.
Driving Adoption of NFC-Enabled Payment Rings
The journey of 7 Ring has not been without challenges. Like many fintech startups in India, the company faced regulatory and ecosystem-related hurdles, especially around payment integrations. These challenges required the founders to adapt, recalibrate their approach, and strengthen partnerships before scaling the product. This phase of resilience played a crucial role in shaping the brand’s long-term strategy and operational stability. Today, 7 Ring Innovation Private Limited remains an active and growing player in the wearable fintech space. The brand continues to promote the adoption of NFC-enabled payment rings while exploring new opportunities in contactless payments and everyday convenience technologies. The journey of 7 Ring reflects a broader shift in Indian entrepreneurship, where innovation is moving beyond screens towards tangible, real-world experiences. By transforming a simple ring into a powerful payment device, Vijay Khubchandani and his team are redefining how people interact with money-paving the way for a future where transactions are not just digital, but almost effortless.
