Contactless payment and data systems

A system for processing electronic information comprising:

• a decorative assembly, comprising
• a cap piece having a stud, wherein the cap piece includes an NFC chip embedded within the cap piece, ornaments around a periphery of the cap piece, and a scannable code located at a center of the cap piece, and
• a socket base with a female socket in its center configured to receive the stud and located in an upper section of the socket base, wherein a bottom section of the socket base includes a PIN that is covered by an opaque peel off sticker;
• a wearable element having an orifice, wherein the decorative assembly is affixed to the wearable element when the stud is inserted through said orifice and received by the female socket of the socket base at an opposite side of a point of insertion of the stud so that the cap piece and socket base become secured;
• a backend system for processing activation of the decorative assembly or for processing payments by a user of the decorative assembly;
• and
• an interface between said decorative assembly and said backend system, wherein the interface receives data stored in said NFC chip, said scannable code, or the PIN number.