BIRMINGHAM, Ala.—Barclaycard is trying to beat the competition by releasing a contactless payment system ahead of Apple Pay's U.K. launch next month.
The mobile payment solution, known as bPay, comes in three forms, allowing customers to pay for transactions on the go via a wristband, sticker or key fob.
Currently, Barclays is the only major bank not to support Apple Pay in the U.K., explained Bill Hardekopf, CEO of LowCards.com.
“The bPay wristband was launched over a year ago, but the new version of the program gives customers multiple ways to pay with NFC technology,” said Hardekopf. “Any Visa or MasterCard registered in the U.K. can be paired with the corresponding bPay smartphone app—not just cards from Barclaycard.”
Hardekopf said the wristband is priced at £24.99, and can be worn just like any other watch, bracelet or smartwatch. The fob is £19.99, and can be attached to a bag, key ring or lanyard. The sticker is £14.99, and transforms any item it is attached to into a contactless payment solution.
“Currently, the transaction limit for the contactless payment system is £20 per transaction, but that is expected to increase to £30 by the end of September,” said Hardekopf.