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📣 News | Contactless Purchase Limit Increases Tomorrow from £45 to £100 💳


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Contactless Limit Increases to £100

Contactless-Payments.jpg.eec5a4060b0beb0f979b78d33829b750.jpg

The maximum amount was increased from £30 to its current level at the start of the pandemic, and plans to raise it further were announced in the Budget.

The pandemic accelerated a move away from cash, with shoppers often being encouraged to use contactless in many stores to reduce close contact between staff and customers. Nearly two-thirds of all debit card transactions are made via the tap-and-go technology.

The decision to raise the upper limit from £45 to £100, breaking away from EU-wide limitations, was made by the Treasury and the Financial Conduct Authority in the wake of a public consultation and discussions with banks and the retail sector.

UK Finance, the body representing banks, said the rollout would begin on 15 October, with some retailers accepting the higher payments straight away.

It said terminals would need to be updated, and that it would take “some time” for the £100 limit to be available at all checkouts.

If you are worried about misuse, check with your bank / banking app as some will allow you to set a cap or limit, or to deactivate the contactless option completely.

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