Barclaycard expects the UK and US general public to be using their mobile phones to make payments regularly within two to three years, the card issuer’s head of research and development, Colin Swain, has told a roundtable event in London.
Swain also told attendees that Barclaycard is looking at a range of formats for both card and mobile payments, according to Finextra:
In addition to card-based contactless technology, Colin Swain, head of research and development at Barclaycard, says that the bank is now developing wristband, mobile and sticker products for contactless payments.
Wristband contactless payments are designed to be used at events, such as music festivals, to offer patrons pre-paid payments options for concessions, says Swain.
Much like other banks, Barclays is unveiling payments stickers for mobile phones as well as developing fully fledged mobile payments applications. Swain says that Barclaycard expects the UK public, as well as the US public, to be using their mobile phones for payments regularly within two to three years.
“On other fronts, Swain says Barclaycard is also developing a ‘private cloud’ to hold transactional data for contactless payments, sending receipts from a sale to a mobile phone, rather than printed on paper,” Finextra adds.