Contactless Card Payment Limit To Rise

Since their introduction in 2007, contactless credit and debit cards have been a hit. The initial cap on payments was a modest £10 and has been rising ever since. Before today, the last rise to £45 was in April 2020. This has now been eclipsed by the introduction of the new £100 cap. This was a move announced by the Chancellor in his March Budget.

Some Retailers are reporting that it may take some time to update terminals to accept the new limits so one should not expect this change to happen overnight in every location.

Even with the present limit of £45 per transaction approximately 60% of debit and credit card transactions in the UK were contactless in the first seven months of the year.

Chancellor Rishi Sunak said at the time of the Budget announcement in March:

“As we begin to open the UK economy and people return to the high street, the contactless limit increase will make it easier than ever before for people to pay for their shopping, providing a welcome boost to retail that will protect jobs and drive growth across the UK.”