Barclaycard’s extension of services on its bPay contactless payment wristband will target sports and music fans at events to grow its cashless payments segment.
A spokesman said Barclaycard plans to focus its roll-out on groups of fans rather than promoting it solely as an everyday substitute for other contactless technology.
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Barclaycard has partnered with leisure industry customer relationship company Green 4 Solutions to create a "one-stop-shop" wearable device for fans.
Users can use the wristband to interact on social media, enter competitions and buy merchandise, food and drink. The advantage for the venues is to gain richer customer intelligence to increase loyalty and boost revenue through the integrated payment and ticketing solution.
Mike Saunders, MD, digital consumer payments, Barclaycard, said: "Wearable payment devices are becoming increasingly popular as they’re a fast, secure and easy way to pay. Consumers tell us they want more than one function from their wearables; payment capability is just one ingredient, there are a wide range of potential applications – access, loyalty, branding, affiliation and recognition."
The band was initially developed as a contactless payment substitute for contactless cards. Retailers would pay a small fee to card providers on the transactions.
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By GlobalDataBarclaycard has trialled the wristband at a number of events in July and August such as Pride in London and British Summer Time in Hyde Park.
Peter Oliver, co-founder of Green 4 Solutions said wearable payment devices help organisations better understand customers’ behaviour.
"This then becomes the lifeblood of future marketing strategies. With better insight into fans’ behaviour, and the ability to utilise our CRM technology to reward fan loyalty, we can ensure that our communication with fans improves their match day experience by making it easier and more tailored to them," he said.
