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Sunday, December 16, 2018
Contactless payment limit to be £30

Contactless payment limit to be £30

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People making contactless payments will be able to buy goods worth up to £30 with a simple swipe of their card when the limit increases in September.

The current limit for the amount that can be spent in a single contactless transaction is £20, and trade body the UK Cards Association said the new, higher ceiling will enable more people making routine shopping trips to simply tap and go.

For example, the average debit and credit card transaction in a supermarket is worth just over £25, the Association said, meaning that it will fall within the new limit.

No exact date in September has yet been set for the payment limit increasing.

Contactless payment use – whereby someone can swipe their card on a reader instead of having to enter their Pin number – has grown rapidly as more people are reaching for their plastic when traditionally they might have used cash.

Last year was a record year for contactless payments, with a total of £2.32 billion being spent in this way in 2014 as consumers across the UK made around 10 contactless payments every second.

There are now 58 million contactless cards in circulation in the UK, which is 52% more than there were in December 2013. People using contactless cards spend £8.26 per transaction, on average.

The growing list of places that accept contactless payments includes Aldi, Barnardo’s, Boots, Superdrug, Costa Coffee, Greggs, Ikea, JD Wetherspoon, Lidl, London Buses, London Tubes, M6 Toll, Marks and Spencer, McDonald’s, the Post Office, Stagecoach, Waitrose and WH Smith.And as this payment method has become increasingly convenient, nearly one in three (30.1%) card transactions taking place last year in London were contactless, according to data from Barclaycard.

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