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October 14, 2021 Industry News

Contactless limit set to increase to £100

On 15th October 2021, the contactless card payment limit will increase from £45 to £100!

UK shoppers will be able to spend up to £100 using their contactless card now the limit has more than doubled!

Chancellor Rishi Sunak has said that “Increasing the contactless limit will make it easier than ever to pay safely and securely, whether that’s at the local shops, or your favourite pub and restaurant.

As people get back on the high street, millions of payments will be made simpler, providing a welcome boost for retailers and shoppers.”

The chief executive of UK Finance, David Postings explains that this is a “great move for customers” and describes how they will work closely with the payment sector and retailers during the change.

According to a report from The Guardian, since the start of the Coronavirus pandemic, more than a third of UK shoppers have been unable to use cash with retailers who have moved to card or contactless payments only, and it seems as though the contactless payments trend is here to stay.

The rise in contactless payments benefits both retailers and customers alike. Retailers could now see increased sales volumes whilst providing the customer with greater flexibility and convenience.

The decision to increase the limit was made by the UK government to encourage customer spending in a post-lockdown society and to boost economic recovery on our high streets.

Here at Inspire Payments we’re excited to be working alongside our customers by supporting them with this change and assisting them with updating their card terminals in the near future.