British lending firm Barclaycard is set to retire its contactless payment band less than a year since it became available.
The bPay mobile payment bracelet was designed to be a revolutionary item that pushed consumers further towards contactless payments. Using near field communication (NFC) technology, customers could tap the bracelet onto contactless readers to pay for their items.
In September 2014, Barclaycard rolled out the contactless pay band for over 10,000 customers on a trial basis, giving away the band for free as the service was aimed particularly at commuters who frequently tap onto an Oyster card reader.
The service only allowed customers to spend a maximum of £20 per transaction, with the bracelet allowing a maximum of £200 to be deposited to the device. Barclaycard plan on raising the transaction limit to £30 later this year, but with the trail ending at the end of May, customers will most likely be limited to a £20 spend.
The payment band will officially become unusable on the 31st May and customers will be awarded a full refund if they still have money remaining on the band.
Once the trial for the bPay technology ends, Barclaycard are already planning on replacing the bPay band with a new contactless payment accessory later next month.
”A newly designed wristband that’s lighter, slimmer and comes in a choice of colours, along with some additions to the bPay family making their debut. On top of this, managing your account will become even easier, with a redesigned online servicing hub and a mobile app to download,” stated a source from Barclaycard.
The bPay bracelet is not the only contactless payment accessory created by Barclaycard. In December the banking giants released payment gloves on a trial basis as it was apparently the most desired item to be transformed into a contactless payment device, according to a Barclaycard study.
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