LONDON—Barclays is preparing to merge its wearable mobile payments product BPay with its more popular Pingit app, after it struggled to attract users.
The two products currently require retail customers to download and maintain two separate apps – one for Pingit, which supports peer-to-peer transactions and international money transfers, and another for BPay, which lets people top up pre-paid credit onto wearable accessories for making contactless payments, Bloomberg said.
“The merger comes as retail banks try to adapt to the needs of consumers increasingly used to using their smartphones to manage their finances,” Bloomberg noted.