Originally Posted by greenlight
VISA Launches Cashless Pay At 2016 Olympic Games
"If users lose the ring they can remotely deactivate the device using a smartphone so thieves cannot make use of the device."
This seems to imply that until it is deactivated, evil doers could make use of it.
They would have to incorporate facial recognition to roll this out globally so that using the ring would also require an image capture confirmation. Otherwise crooks will just kidnap people with the ring, chop it off and use it up.