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Barclays launch keyfob as payment device

90Barclays is introducing more wearable devices that can act as payments devices using contactless technology. So, one can waive a keyfob or sticker to effect payments at a restaurant or in a bus or entering the metro.The bank had earlier launched payment wristbands and it is now launching key fobs, which is an updated wristband, and stickers that can be attached to any flat surface, including a mobile phone. The bPay devices can be used by anyone with a UK-registered Visa or MasterCard debit or credit card and bought online or in high street stores, including Snow + Rock, CycleSurgery and Runners Need, from next month. Barclays’ bPay band was launched in in July last year. The UK Payments Council recently revealed that cashless payments have now overtaken the use of notes and coins for the first time in the UK. The bPay wristband, fob and sticker act like a contactless bank card, but must be pre-loaded with cash. Funds can be added online, via a mobile app or by automatic top-up. It is possible to own several devices and manage them separately so that, for example, a child’s pocket money can be loaded onto a sticker or fob.

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