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Startups

One ring to pay them all: Itochu teams with e-payment startup

Japan's Evering nabs capital injection and client access from trading house

Evering's smart payment ring eliminates the need to take out a credit card or smartphone for purchases. (Photo courtesy of Evering)

TOKYO -- Japanese smart ring payment startup Evering has accepted a capital injection from trading group Itochu, Nikkei has learned.

Evering, a Tokyo-based subsidiary of fitness equipment company MTG, will issue a private placement of shares to Itochu estimated to be worth hundreds of millions of yen (100 million yen equals $786,000).

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