19 February 2018
visit www.ebaday.com

Barclaycard unveils contactless wristband

09 June 2014  |  14856 views  |  4 bpay

Barclaycard is preparing to jump on the wearable tech bandwagon through the launch of a contactless payments wristband.

Barclaycard has been trialling the bpay bands over the last two years at music festivals. After each event, the bands were deactivated but next year will see a full-scale roll out of the technology.

The bands will enable users to make low-value payments through the tap of a wrist at over 300,000 spots in the UK, including in shops, bars and on London's public transport system.

Available to customers of any UK bank or credit card company, except Amex, the actual bands will be free and there will be no usage fee, says Barclaycard.

Customers will set up an online 'top-up' account and link this to their card or bank account and then add money either manually or automatically when funds run low.
KeywordsEFTPOS

Comments: (4)

A Finextra member
A Finextra member | 09 June, 2014, 14:47 Wait a second! CNP expense to top-up the "wallet" at one end vs interchange fee earned at the other end don't stack up. As we all know, Google used that approach and lost money on every transaction. Barclays cannot afford (and will not be allowed) to do that. Also, if that was so, why limit it to wrist band form factor, and not offer "uber card"?..
Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
A Finextra member
A Finextra member | 10 June, 2014, 08:08

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.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Kishen Gajjar
Kishen Gajjar - Grant Thornton - London | 10 June, 2014, 09:33

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.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
A Finextra member
A Finextra member | 10 June, 2014, 16:49

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...

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

WestPac NZ preps Sony Smartwatch app

WestPac NZ preps Sony Smartwatch app

16 October 2013  |  6494 views  |  0 comments | 7 tweets | 3 linkedin
Pre-paid contactless wristwatch launched

Pre-paid contactless wristwatch launched

29 November 2011  |  10862 views  |  0 comments
US Bank unveils contactless payment and medi-care wristband

US Bank unveils contactless payment and medi-care wristband

19 July 2011  |  10352 views  |  0 comments
Barclaycard explores contactless future

Barclaycard explores contactless future

30 September 2010  |  14378 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit http://info.nice.comvisit www.nextgenbanking.co.ukVisit https://www.capgemini.com

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
11352 views comments | 16 tweets | 12 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
8906 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8796 views 10 comments | 22 tweets | 26 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8749 views comments | 15 tweets | 43 linkedin
hands typing furiouslyHow can Blockchain Help with AML KYC
8155 views 4 | 9 tweets | 6 linkedin

Featured job

Basic c. EUR 90K OTE c. EUR 180K plus full bene...
Paris (preferred) or London

Find your next job