A wristband that allows you to make payments

London: End of credit and debit cards? A new wristband that allows wearers to pay with just a tap is being launched in the UK.

Barclays, a British multinational banking and financial services company, is offering a wristband people can use for contactless payments. The bank's Barclaycard division plans to roll out its 'bPay' band, at sponsored events this year, ahead of a wider launch in 2015.

The device uses the contactless payment technology in Barclays' credit and debit cards, which lets users make payments by scanning them against terminals, 'The Telegraph' reported.

A user can add money to their 'bPay' band using their Visa or MasterCard credit or debit card. The money can then be spent on small purchases up to a single transaction value of 20 pounds by swiping the bands over a terminal.

Barclaycard plans to make the bands free of charge and will allow them to be used by the majority of UK card users, not just its own customers.

"Just imagine a typical day in the near future. You leave the house, hop on the train and head to the gym. After your workout, you grab a coffee and go to the office. The money or information you need for every stage of that journey will be integrated into a single device like bPay band - from your travel card to your gym membership to the money for your coffee and lunch," according to the Barclaycard website.

"It's a time that isn't quite here yet, but it's not far away. Innovations like bPay band are bringing it closer every day," the website said.