Contactless card payment limit set to rise from April

25 Mar 2020

Trade association UK Finance has announced that from 1 April the spending limit for contactless card payments will rise from its current level of £30 to £45.

The decision to increase the payment limit was reached following consultation between the retail sector and the finance and payments industry, and echoes similar increases in other European countries.

UK Finance stated that the change had been under consideration before the outbreak of the coronavirus (COVID-19), but has been brought forward in order to support consumers during the pandemic.

Commenting on the increase, Stephen Jones, CEO of UK Finance, said: 'The payments industry has been working closely with retailers to be able to increase the contactless payment limit to help customers with their shopping at this critical time for the country.

'This will give more people the choice to opt for the speed and convenience of purchasing goods using their contactless card, helping to cut queues at the checkout.'

UK Finance said that, given the pace at which the change will be rolled out, the new payment limit will take 'some time' to be introduced across all retailers.

Consumers spending more than £45 will be able to make use of many other ways to pay, including Chip and PIN, cash and mobile payments.

Register for our newsletter

Once a month we'll send you an email packed full of essential business news and handy tax tips to help save you money.

Register

Weston-super-Mare

34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

01934 415022

Cheddar

Bath Street
Cheddar
Somerset
BS27 3AA

01934 743274


Home | Contact us | Accessibility | Disclaimer & Privacy Policy | Help | Site map |

© 2020 Four Fifty Partnership. All rights reserved.

We use cookies on this website, you can find more information about cookies here.


Registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales. Details about our audit registration can be found at auditregister.org.uk under the reference C001092613.

"four fifty partnership" is a trading name of Four Fifty Partnership Limited. Registered in England. Company Number 5032008. Registered Office 34 Boulevard, Weston super Mare, Somerset BS23 1NF.

Directors: Richard Acreman BSc CTA, Joy Boswell FCCA FCA, Peter Ison BA FCA and Nick Gravell FCCA FCA.

Professional Indemnity Insurers: Nexus Underwriting Limited 52-56 Leadenhall Street, London EC3A 2EB (Policy Number: BC6210PIA194). The territorial coverage is worldwide excluding professional business carried out from an office in the United States of America or Canada and excludes any action for a claim brought in any court in the United States of America or Canada.