Quontic debuts tap-to-pay contactless payment ring

Quontic Bank in New York has unveiled a payment ring that will allow consumers to tap-to-pay at the point of sale. 

The $916 million-asset Quontic said in a press release Tuesday that the black band, embedded with contactless payment technology, can link to one of three checking accounts.

"We're pleased to continue to push the industry forward and will continue to make it easier for Americans to bank, wherever and however they choose,” Steve Schnall, Quontic’s CEO, said in the release. 

The ring, which has already gone through a pilot program, will eventually cost customers $29.