September 16, 2015
Barclays’s credit card arm, Barclaycard has announced that it will support NFC payments from its existing Android app from November. The mobile payment service will be based on HCE technology.
The new feature will let NFC-enabled Android phones to make touch-and-go payments at more than 300,000 retail locations all over the UK. The user can also make NFC payments at London’s transport network using their Android smartphone through the Barclaycard app. With the new feature, the company claims that it will become the first mover in the UK’s financial services space to provide contactless payments with NFC-enabled Android phone. The app is free to download from Google Play.
With the new feature, Barclaycard customers will be able to make contactless payments of up to £30 without a PIN and up to £100 by entering their PIN.
Barclaycard is also coming up with another feature called instant card replacement for Android users. This service will enable users to have an immediate card replacement in case of a stolen or lost card. The users need to call the contact center from their app and report their card as lost, stolen or damaged. A new virtual card will be added to the user’s app and can be used immediately. A physical card will then follow in the post.
Mike Saunders, Managing Director of Digital Consumer Payments at Barclaycard, said in the press release, Barclaycard has a strong history of innovation and we're constantly looking for new ways to revolutionise payments. These new features transform Android phones into a mobile hub for our customers allowing them to manage their account on the go, make contactless payments up to £100 and have a lost or stolen card instantly reissued—letting them continue to make contactless payments straightaway.
This additional functionality is being added to our existing customer app so there’s no need for existing users to download, register, upload, or add card details into a new app; you just complete the simple opt-in process and away you go. It’s the latest in our range of ‘Pay your Way’ options that allow customers to make payments quickly, easily and conveniently, and makes the Barclaycard app the best in its class.
After Apple announced that Apple Pay is entering the UK in July, most major financial institutions in the UK supported Apple Pay, but there was one major bank missing from the list: Barclays.
Barclays was the only major bank sitting out Apple Pay (launched in July in the UK). Being a large bank and having its own payment systems, Barclays did not agree to the terms and conditions of Apple Pay, especially giving out a transaction cut to Apple.
The bank’s recent step in the contactless payments system indicates that it wants to go down in the NFC payments system route on its own with its payments system.
The move to launch NFC payments by Barclaycard with the fact that currently there is no date for Samsung Pay and Android Pay to arrive in the UK makes it clear that it is planning to grab a large pie of the contactless payments space.
The amount that UK consumers are spending using contactless has risen 150% in the last 12 months and the number of transactions is up 134%, according to Barclaycard’s research.