SHOPPERS who forget their wallet will be able to pay with a WATCH later this year.
Barclaycard has teamed-up with luxury watchmaker Timex to embed its contactless technology in its latest time piece – BUT it comes with a hefty price-tag of £159.
The Fairfield Contactless comes with a bPay chip within its strap – giving shoppers the chance to make purchase up to £30 with just a flick of their wrist.
Millions of shoppers now use contactless payments to pay for everything from their groceries to getting around on the tube.
In 2016, £21BILLION was spent on contactless cards.
But concerns have been raised that crooks could take advantage of the technology – and use stolen debit and credit cards even after they’ve been cancelled.
A spokeswoman told the Sun Online that each bPay device is registered online and the maximum amount that can be stored on it at any one time is £200.
She added that if anyone was to lose their device, they should log-in immediately to their account or via its app and report it lost or stolen.
It will then block the device, preventing a criminal from spending.
This month marks the 10th anniversary of Barclaycard introducing contactless payments to the UK.
Earlier this month it announced it is set to put its bPay chips into car fobs.
Tami Hargreaves of Barclaycard mobile payments said: “bPay is designed to meet the needs of time-pressed shoppers who are increasingly looking for easy and convenient ways to pay for everyday goods and services.
“Our partnership with Timex represents another exciting way ‘touch and go’ technology can be simply and stylishly integrated into fashion and accessories.”
The watch will be available from early November.
What are contactless payments
CONTACTLESS cards have transformed the way we pay for our shopping.
In 2015, the limit shoppers could spend on without having to enter your pin number was increased from £20 to £30.
But with some contactless technology you can spend more.
Apple Pay which lets you pay for goods through your smart phone and some buinesses and retailers will let you spend whatever you want.
And research from Barclaycard earlier this year found that 20 per cent of businesses wanted the limit to rise to £100.
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