Britain To Increase Contactless Payment Limit To £100 In October

Banks will start rolling out the new £100 ($137) spending limit for contactless payments from 15 October, Britain’s banking industry body UK Finance said on Friday.

Contactless payments surged during the pandemic, with some shops refusing to take cash to help prevent the spread of COVID-19.

Contactless payments accounted for 49% of all credit card and 65% of all debit card transactions in May, UK Finance said.

Transactions in May were double the same month in 2020.

The limit on payments had already been increased to £45 from £30 in April 2020, a month after the first national lockdown in Britain was introduced.

The decision to raise the limit was made by the finance ministry and the Financial Conduct Authority.

ESM