Closure of the McLEAR Ring Pre-Paid Programme

McLEAR Limited is saddened to announce the closure of the McLEAR RingPay prepaid program.

Due to the increasing complexity and costs associated with maintaining the McLEAR Ring prepaid program, the company has made the extremely difficult decision to discontinue the program. Moving forward, McLEAR will focus on strengthening and supporting strategic business relationships and continuing to develop new and more efficient technologies.

The following message contains important information regarding the future of customers’ rings and accounts. This notice was emailed to all account holders on August 28, 2024, and also appears in the message center of the RingPay app:

Closure of McLEAR Ring Prepaid Accounts

This is an official notice that PayrNet Limited accounts with McLEAR Limited will be closed on October 31, 2024. Customers’ McLEAR accounts and McLEAR Rings will continue to operate as normal until that date.

Account holders are advised to ensure that the balance of their accounts is spent or withdrawn before the expiration of October 31, 2024, as it will no longer be possible to spend using the ring after that date.

It is important to note that after October 31, 2024, customers will not be able to use their rings to make payments or add money to their RingPay accounts.

McLEAR assures customers that their wallet balances are safeguarded. If an account still holds a balance after October 31, 2024, instructions will be provided on how to reclaim the remaining funds via digital transfer only, to a bank account held in the account holder’s name.

Physical Ring Hardware Refunds

Customers may have concerns about the money spent on the purchase of their rings and what McLEAR plans to do in this regard.

All rings came with a 36-month expiry date. McLEAR will be offering customers a pro-rata refund for the months remaining on their rings as of November 1, 2024. This refund will be calculated based on the original price paid for the ring, divided by 36 months, and multiplied by any full months remaining on the ring’s expiry.

For example, if a ring has 6 months remaining as of the program end date and £99.99 was paid for the ring, a refund of £16.66 may be claimed. The refund will be processed from the original order, back to the payment card used to purchase the ring.

McLEAR will provide further instructions in the coming weeks on how to claim the pro-rata refund for any time remaining on the rings.

For any further questions or concerns regarding this closure, customers are encouraged to contact McLEAR at support@mclear.com.