Barclays is introducing PayTag, a sticker that will enable any device to complete NFC payments. The company's debit cards and Barclaycard credit cards have long included contactless payments, with one model even supporting London's Oyster travel pass. The new sticker will be available only for Barclaycard users for now, and will be paired to your credit card to enable payments of up to £15 at first, raising to £20 in June. It's compatible with any phone and could technically be applied to anything you can lay your hands on, although the company says "it looks nice on the back of phones."
The sticker itself is around one inch high and two inches wide, and should blend in well with most phone designs. Barclays says that if you lose your PayTag you'll be refunded any fraudulent transactions, so long as you remember to call customer services and cancel it.
The number of contactless payment terminals will rise by 50 percent this year
As previously mentioned, the majority of Barclaycards in the UK support contactless payments already, so why is the company offering the PayTag? David Chan, CEO of Barclaycard Consumer Europe, says that "the item we're most lost without is our mobile phone." The company hopes that if you have access to your Barclaycard directly from your phone you'll be more inclined to use it for quick and easy payments.
There are only around 100,000 point-of-sale terminals equipped to deal with contactless payments in the UK, but that number should rise to 150,000 by the end of the year. By the end of 2013 Transport for London will be accepting NFC payments on buses, trains, and tubes as well. if you're one of the 12 million Barclaycard customers in the UK, you'll be receiving a PayTag in the mail soon.