Barclaycard is preparing to jump on the wearable tech bandwagon through the launch of a contactless payments wristband.
How different is this from mobile wallet except as a wearable device? Second, is this sustainable from cost perspective. This looks like a teaser product that is free for 6 months and thereafter....Perhaps it is too early to comment.
If you think from the customer perspective, this will help alleviate fear of contactless payments (a separate top-up account like an Oyster card as opposed to directly linked to your bank account) and help drive adoption rates when the 'real thing' finally
becomes available. I think it's one of many steps in the right direction.
Or they could have saved themselves a lot of (physical) issuance costs and invested in building a proper mobile wallet ecosystem using HCE and NFC. Interesting to see that the main barclaycard site makes no mention of the new bpay bands...
to £100K base, double OTELondon, UK
© Finextra Research 2015