Yes, CNICK ring payment is very secure. When you connect a payment card to your CNICK ring, a token is created, which can only be used on your wearable and not online or anywhere else. This means that your wearable is protected against skimming. The token card number is also cryptographically connected to that specific wearable, so it cannot be used on any other wearable, protecting you from fraudulent behaviors. In summary, payments with CNICK ring are even more secure than paying with a physical payment card, where the card number can be used both in-store and online.
What if someone steals my ring?
- You can deactivate the ring instantly using mobile application;
- There is a limit on the value of a single contactless transaction, requiring a PIN for larger transactions. The limit varies by country, usually it is between 50-100 EUR.
What if I lose my ring?
- You can deactivate the ring instantly using mobile application;
- CNICK rings look like a regular ring, it has no payment symbols printed. Thus, it's much less revealing than other forms of payments.
Can thief electronically pickpocket ring?
- NFC is called "Near Field" for a reason. It only works within a few centimeters, so criminal would need to get very close to the victim. This is generally more difficult and riskier than other forms of digital theft;
- CNICK rings transmit signal from the circle so in order to make the ring readable you have to bend your finger and tap the knuckle on the reader;
- The Point of Sale (POS) terminals used for legitimate transactions are registered with a payment processor and will only work if they are verified. Unauthorized devices or those used for malicious purposes would not be able to process transactions without detection;
- CNICK Rings use encryption and tokenization to secure the transaction. Tokenization replaces sensitive card information with a random code, or "token". Even if a criminal manages to capture this information, they would not be able to reuse it to make a fraudulent purchase. Therefore paying using CNICK rings is more secure than using debit/credit card as tokenization makes it impossible even to read card details (the code that is printed on the card and used for ecom purchases);
- There is a limit on the value of a single contactless transaction, requiring a PIN for larger transactions. The limit varies by country usually it is between 50-100 EUR. This provides an additional layer of security against fraudulent activity.
- If you lose your ring and don’t have access to your phone, you need to contact us to deactivate the ring. Note that the ring doesn't have GPS, so you can't track its location.
Is cnick ring cloning possible?
- CNICK smart rings use the world's most secure EMVCo certified chip, which unlike regular NFC chips, has multi-level encryption. that makes it impossible to clone;
- CNICK smart payment rings use tokenization to secure the transaction. Tokenization replaces sensitive card information with a random code, or "token". Even if a criminal manages to capture this information, they would not be able to reuse it to make a fraudulent purchase. Therefore paying using CNICK rings is more secure than using debit/credit card as tokenization makes it impossible even to read card details (the code that is printed on the card and used for ecom purchases).
- If someone tries to read the ring with a Flipper Zero, they won’t be able to retrieve any information because we use tokenization, and no sensitive information is stored on the ring.