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Contactless payment limit increased to £100 in budget by Rishi Sunak

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dailyrecord.co.uk

contactless card payment limit will rise from £45 to £100 from Wednesday, March 3 in an effort to boost the retail sector and help protect jobs.However, shoppers may not be able to take advantage of the increased limit until firms make changes to their systems.The changes have been set out in Wednesday's Budget and will see the legal single contactless payment limit more than double.

The banking industry will implement the new £100 limit later this year.The UK Government said the increase has been made possible by the UK's exit from the European Union, which means it is no longer bound by EU rules on the maximum limit for contactless payment, which is currently set at £45.‘Tap and go’ contactless cards initially had a limit of £10 in 2007,.

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