In the future, rings could become much more than statements of commitment or fashion. According to a Hong Kong-based tech company, wedding rings will continue to be symbols of everlasting love – but also a method of payment.

The Tappy “smart ring”, unveiled this week at CES, the annual electronics show in Las Vegas, will enable its wearer to pay for items in any stores using contactless payment terminals, simply by placing their ring finger close to a payment machine.

Wayne Leung, CEO and founder of Tappy, said that “at least 10 big brands” would be stocking Tappy rings in the first half of 2017. Tappy provides the technology to jewelry companies who then design their own take on the ring.

The rings are ceramic, as metal would interfere with wireless payment, Leung said, and will cost around $100. They are due to go on sale in the US in April.

That rules out gold or silver wedding rings, which might come as a blow to traditionalists, but for more forward-thinking promisees the black and white rings Leung showed off at CES still looked stylish.

“You’re getting tied, but also your bank account is getting tied as well,” Leung said.

He was not wearing one of the Tappy rings, despite being married and despite having invented the technology. Leung said once the ring is in stores he will “definitely” start wearing one.

The rings connect with a Tappy smartphone app which then connects to a wearer’s bank account, Leung said. They do not need to be charged.

He added a slightly underwhelming sales pitch.

“Even if you don’t use the technology or it runs out or breaks or something, to look at it’s still exactly the same as a normal ring.”

The Motiv ring, also on display in Vegas, is a sleep and activity tracker that feeds data back to your phone.

The Motiv ring it will “effortlessly” track a person’s activity, heart rate and sleep – like a Fitbit for a finger.

Like the Tappy ring, it feeds back to an app. Unlike the Tappy ring, it needs to be re-charged every three to five days. Motiv says its ring will cost $199 and is also due to go on sale in spring 2017.