To coincide with the launch of the bPay loop from Barclaycard, the company has been busy accumulating some rather funny research on what the British public want to see made into a contactless wearable.
With almost a fifth of all card purchases now made using contactless payment, spending has increased by 247 percent year-on-year to roughly £1.9 billion per month. That’s a big jump which shows that the payment method is here to stay and expanding rapidly.
We’ll be getting their new wearable in for review very soon but in the meantime, we thought it would be good to share some of their findings. Most are pretty straightforward aside from a select few, which seem to be rather bizarre.
Contactless dog lead?
| 1. |
Watch (modern, old or vintage) |
| 2. |
Bracelet/ring from a family member |
| 3. |
Wedding ring |
| 4. |
Dog’s lead |
| 5. |
Comfy jumper |
| 6. |
Sunglasses |
| 7. |
Favourite hat |
| 8. |
Cufflinks |
| 9. |
Vintage handbag |
| 10. |
Pocket watch |
Unsurprisingly, the humble traditional watch leads the way in first place, followed by a bracelet/ring. These are pretty conventional items that would likely benefit from a contactless function. Imagine being able to tap in on the London Tube network by hovering your ring over the reader. Some of the more interesting votes include clothing and a dog’s lead. The latter seems a little odd, as we can’t really think of an occasion where you’d need your pet for contactless transactions.
Tami Hargreaves, Commercial Director, Digital Consumer Payments at Barclaycard, commented on the findings, saying “Whether it’s your watch, bracelet, dog lead or pair of sunglasses, paying using your favourite item isn’t as far-fetched as it seems”.
Considering that the research showed 67 percent of people would prefer to add contactless functionality to something they already own or wear rather than purchasing a brand new wearable payment device, it definitely reveals a market for more understated contactless devices.
Pulling out a card isn’t always ideal and you’ve got the added benefit of discrete security, since the function is baked into an otherwise unassuming item. This is echoed by the fact that 25 percent of those surveyed prefer wearable payment devices that can be adapted to their personal style, perhaps paving the way for more fashion-centric contactless wearables in the future.
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