do you tv logo
advertise

CONTACTLESS CARD PAYMENT LIMIT COULD BE INCREASED TO £100

27.01.2021
352 VIEWS
.

The contactless card payment limit for a single transaction could be raised to £100 - more than double the current amount.

Since the limit was raised from £30 to £45 at the start of the COVID-19 pandemic last April, people have increasingly made use of contactless payments, the Financial Conduct Authority (FCA) said.

The FCA said it is now consulting on raising the limit again.

"Recognising changing behaviour in how people pay, as part of a wider consultation, we will shortly be seeking views on amending our rules to allow for a possible increase in the contactless limit to £100," it said.

The current £45 limit is three times the amount it was a decade ago.

There are concerns that increasing the contactless payment limit may lead to the end of customers using cash, but the Government intends to legislate to protect against this.