Rise in contactless card payment limit

From 1 April the spending limit for contactless card payments increased.

From 1 April the spending limit for contactless card payments rose from £30 to £45.

The decision to increase the payment limit was reached following consultation between the retail sector and the finance and payments industry, and echoes similar increases in other European countries.

UK Finance stated that the change had been under consideration before the outbreak of COVID-19, but has been brought forward in order to support consumers during the pandemic.

Commenting on the increase, Stephen Jones, CEO of UK Finance, said:

'The payments industry has been working closely with retailers to be able to increase the contactless payment limit to help customers with their shopping at this critical time for the country.

'This will give more people the choice to opt for the speed and convenience of purchasing goods using their contactless card, helping to cut queues at the checkout.'

UK Finance said that, given the pace at which the change is being rolled out, the new payment limit will take 'some time' to be introduced across all retailers.

Consumers spending more than £45 will be able to make use of many other ways to pay, including Chip and PIN, cash and mobile payments.

Internet link: UK Finance press release


© 2024 Peplows Property. All rights reserved.

We use cookies on this website, you can find more information about cookies here.

Peplows Property Tax Experts is part of Peplows Chartered Accountants and is a trading name of Peplows Limited, Registered In England Company Number: 3133714 - Registered Office: Moorgate House, King Street, Newton Abbot TQ12 2LG
A list of Directors is available at the Registered Office
Peplows Limited is registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales
Details about our audit registration can be viewed at www.auditregister.org.uk, under reference number C003872129