Contactless Payment Limit Could Be Raised to £100

The Financial Conduct Authority (FCA) has asked the UK Treasury to consider increasing the maximum contactless payment to £100.

Changing Payment Behaviour

The move away from handling cash due to its potential infection-passing risk, and the lockdowns making consumers less likely to visit ATMs or town centres have led to a move away from cash towards contactless. 

Figures

For example, the total value of contactless payments in 2020 increased by 7 per cent compared with 2019 and ...