finance

Contactless limit could rise to £100 from £45


SHOPPERS may be able to make contactless payments for transactions worth up to £100.

The contactless limit was increased from £30 to £45 at the start of last year as the coronavirus pandemic began to spread across the UK.

😷 Read our coronavirus live blog for the latest news & updates

The contactless payments limit could rise to £100

1

The contactless payments limit could rise to £100Credit: Getty – Contributor

Now City watchdog the Financial Conduct Authority (FCA) has said it is considering raising the limit from £45 to £100.

The regulator said: “Since the limit for contactless card payments was raised to £45 last April at the start of the pandemic, people are increasingly making use of contactless payments.

“It’s important that payments regulation keeps pace with consumer and merchant expectations.”

The World Health Organisation last year suggested ditching cash for contactless payments to fight the spread of coronavirus.

Shops have encouraged customers to pay with a contactless card throughout the pandemic.

This reduces the risk of spreading the virus by minimising physical contact at the till.

Rather than handing over cash, shoppers can simply tap their card or smartphone on a reader to make a payment.

Contactless payments also mean shoppers avoid having to touch the card reader and it minimises queuing time to help with social distancing.

The FCA said it will be seeking views on upping the limit as part of a wider consultation reflecting changing behaviour in how people pay.

A glitch meant Morrisons shoppers couldn’t use their contactless cards earlier this week.

Supermarkets are among many of the shops which have urged people to pay with card rather than cash during the coronavirus crisis.

Morrisons and other supermarkets will now refuse entry to those who don’t wear face masks, apart from those who are exempt, in a bid to tackle the spread of the virus.

Piers Morgan furiously slams ‘dithering’ Boris Johnson after PM said he did ‘everything he could’ for Covid pandemic





READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.  Learn more