Barclaycard plans to use data generated from its bPay contactless payments wristband to help businesses understand more about customer behaviour.
The bPay wearable payments system is being trialled at a number of events in the UK this summer, ahead of a planned full roll out during 2015. The free device allows users to make payments of up to £20 by tapping on 300,000 payment terminals in the UK, with the NFC technology embedded in the wristband linked to any Visa and Mastercard debit or credit card.
Barclaycard has now unveiled a partnership with customer relationship management (CRM) supplier Green Solutions to provide additional value when used at sports and leisure venues.
The scheme will enable businesses to collate data at large events, providing insight into customer behaviour and helping to develop relationships to boost revenues.
The payments firm said it is now in talks with a range of partners about allowing customers to participate in 'experiential activities' such as social media check-ins, competitions and loyalty activity.
“Wearable payment devices are becoming increasingly popular as they’re a fast, secure and easy way to pay,” said Mike Saunders, Managing Director for Digital Consumer Payments at Barclaycard.
“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.
Barclays is not the only bank to capitalise on growing interest in wearable technology. Last month, Spain’s Caixa Bank announced plans to distribute 15,000 contactless payments wristbands to its customers.