Barclaycard has stopped accepting applications for its first-generation contactless bPay wristbands ahead of a relaunch later this year.
Embedded chips in Barclaycard's current crop of wristbands are set to expire this month, a year after their initial launch last year.
The bands enable users to make low-value payments through the tap of a wrist at over 300,000 spots in the UK, including in shops, bars and on London's public transport system. Up to 10,000 customers are understood to have signed up for the technology.
In an e-mail notifying customers of the termination, the bank says it will launch a lighter and slimmer version of the wearable combined with a sleeker online service and new mobile app for downloading cash to the band.
Barclays says any remaining balance on bPay bands when they expires will automatically be returned to the card last used to top up.