IT for financial services

Barclaycard wearables to monitor customer behaviour

Clare McDonald

Barclaycard is launching a scheme testing the data collection capabilities of its contactless payment band bPay.

Customer relationship management firm Green 4 Solutions will work with Barclaycard during the trial to use data collected about customers during time at sports and leisure events and venues to improve customer relations and service.

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Mike Saunders, managing director for digital consumer payments at Barclaycard, explained that by allowing customers to use the payment bands for other activities, a range of opportunities, such as loyalty, branding and recognition, would open up for suppliers .

He 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.”

A recent paper by Beecham Research has found technology companies do not have the right approach to wearable technology and devices are not what consumers want to wear.

The bPay bands, which were tested earlier this year, allow customers to top up their wearables using any Visa or Mastercard, and can then be used for payment wherever the contactless symbol appears.

The new scheme will see consumers able to perform other tasks with the bands, such as updating social media and participating in competitions.

This data can then be used by venues to target customers more effectively with ads and promote correct loyalty schemes, as well as improve customer service.

As the launch of Paym adds to the number of ways to pay for goods, the amount of competition in the contactless payments market is increasing.

Barclaycard has been releasing a number of different ways to pay over the past few years to meet consumer demand, including contactless cards, and ‘stick-on’ cards.


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