Barclays Transforms Ordinary Watches Into Contactless Cards
A small attachment helps turn any device with a strap into a mobile payment tool
Global banking and financial institution Barclays is stepping further into the mobile payment space with the introduction of bPay Loop, a small chip designed to attach to watches and wearables for a streamlined, contactless transaction at checkout.
The chip, encased in a thin silicon shell meant to slide over bands up to 22mm, works in partnership with Barclays bPay, the company’s existing mobile payment system. As of now, bPay Loop is only offered and functional in the UK, with a sticker price of £20. It’s also worth noting that because the Loop requires no authentication to use for purchase, a spending limit of £30 per transaction is in place to aid with security.