Contactless card limit set to increase to ₤ 100 from ₤ 45

CONSUMERS might soon make contactless payments for deals 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 out throughout the UK.

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

The regulator stated: “Given that the limit for contactless card payments was raised to ₤ 45 last April at the start of the pandemic, individuals are increasingly making use of contactless payments.

” It’s important that payments policy equals customer and merchant expectations.”

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

Shops have actually motivated consumers to pay with a contactless card throughout the pandemic.

This minimizes the threat of spreading out the virus by minimising physical contact at the till.

Rather than turning over cash, shoppers can just tap their card or mobile phone on a reader to make a payment.

Contactless payments also imply buyers avoid needing to touch the card reader and it reduces queuing time to assist with social distancing.

Cash use has actually plunged as individuals turn to paying in this covid-secure way.

The FCA said it will be seeking views on upping the limitation as part of a larger assessment showing altering behaviour in how people pay.

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Meanwhile, a problem implied Morrisons shoppers could not utilize their contactless cards earlier this week.

Grocery stores are amongst many shops which have advised individuals to pay with cards instead of cash during the pandemic.

And a number of the across the country chains have actually said they will decline entry to consumers who do not use face masks, apart from those who are exempt, in a bid to deal with the spread of the infection.

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