British bank Barclays is the latest brand to jump on the wearable technology bandwagon following the success of its bPaywristbands.
Following successful pilots at music festivals in the UK, Barclaycard is now gearing up to take the concept nationwide in 2015, reports The Telegraph. The bands allow customers to pay for items using contact less technology and without even having to carry a credit card. Users simply swipe the band over the mobile payment reader to purchase their goods.
The bracelet can be used for purchases totaling a maximum of £20 (about US$34), and customers can use an auto-top-up function to transfer funds from their bank account to the band. The group intends to make the bands available to customers from several UK banks, as opposed to limiting the concept to Barclays clients. “Just imagine a typical day in the near future,” says the Barclaycard website. “You leave the house, hop on the train and head to the gym. “After your workout, you grab a coffee and go to the office. “The money or information you need for every stage of that journey will be integrated into a single device like bPay band – from your travel card to your gym membership to the money for your coffee and lunch.”
Wearable payment methods are becoming something of a trend among banks earlier this year Australia’s Heritage Bank teamed up with Visa to launch The Heritage Power Suit, an outfit with an inbuilt payment chip sewn into its sleeve.