Contactless payment terminals and wearable devices are becoming more prevalent on the market, but Barclays plans to make these kinds of technology even more usable with 'bPay Loop.'
In the past, Barclays has introduced smart wristbands and jackets that give consumers the ability to make contactless payments. Now, the banking and financial institution is launching bPay Loop, which is a chip that can be attached to watches and wearables to transform any device into a tool for making mobile payments. The chip is protected by a silicon shell, which can be affixed to bands that are up to 22 millimeters in thickness.
Since no authentication is required for use, consumers must spend a minimum of £30 for transactions conducted with the chip.