A method and system for a one-time authentication interaction to conduct electronic financial transactions using a wearable smart ring device is described. In one embodiment, a method includes detecting, by a mobile device, that a wearable smart ring device is being worn by a user. The method also includes receiving, by the mobile device, authentication information associated with the user, and comparing the received authentication information with stored authentication information associated with the user. Upon determining that the received authentication information matches the stored authentication information, the wearable smart ring device is authorized to conduct electronic financial transactions. Additionally, the wearable smart ring device remains authorized to conduct electronic financial transactions as long as it is worn by the user. Once removed from the user's finger, the wearable smart ring device is de-authorized.