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Barclays to Merge BPay, Pingit Products as Banks Fend Off Apple

  • BPay launched wearable band, key fob in 2014 for payments
  • U.K. banks are having to defend competition from Apple, Monzo

Barclays Plc is preparing to merge its wearable mobile payments product BPay with its more popular Pingit app, after it struggled to attract users.

The two products currently require retail customers to download and maintain two separate apps -- one for Pingit, which supports peer-to-peer transactions and international money transfers, and another for BPay, which lets people top up pre-paid credit onto wearable accessories for making contactless payments.