Islanders are set to benefit from an increase in the contactless card transaction limit later this month – the second in the past 18 months.
From 15th October, the amount that can be spent in one contactless transaction will rise from the current £45 limit to £100 following a public consultation by HM Treasury and the Financial Conduct Authority. It follows the previous increase from £30 to £45 in April 2020.
Customers will start to see changes to the limit rolled out from the 15th, but it may take some retailers slightly longer than that to update their machines to allow the limit. To check if a retailer has updated, customers should either ask in-store or follow the prompts on the card machine when paying.
Apple Pay and Google Pay will remain unaffected with no upper limit on the value of transactions. These payments are able to exceed the contactless limit due to the fact that they are authenticated with fingerprints or facial recognition.
David Postings, Chief Executive of UK Finance, said:
“Contactless payment has proved very popular with consumers and an increasing number of transactions are being made using contactless technology. The increase in the limit to £100 will allow people to pay for higher value transactions like their weekly shop or filling up their car with fuel.
“The payments industry has worked hard to put in place the infrastructure to enable retailers to update their payments systems so they can start to offer their customers this new higher limit.”
The Chancellor Rishi Sunak said:
“Increasing the contactless limit will make it easier than ever to pay safely and securely – whether that’s at the local shops, or your favourite pub and restaurant. As people get back to the high street, millions of payments will made be simpler, providing a welcome boost for retailers and shoppers.”
Wow great this is available to islanders.
Islanders will benefit ? Makes it sound like they are doing something just for the island , I can’t see one shop in any high street where I would spend £100
Just a way to get you to click on the “story”.
£100…. ridiculous. Don’t lose your card or have it visible in the street. Once the scum see it they will have it away within seconds.
You really need a job.
Why so good, people to lazy to press 4 buttons. More card thefts if can get this much each time , that’s like £600 in a day before ask for pin
Perhaps it’s to do with covid, less contact with buttons on the machine not everyone cleans their hands
Those carrying knives and muggers who would have stolen cash, now cash is dissapearing need to subsidise their benefits and free rent and c.tax with another source to pay for alcohol, drugs, women and some to waste too.
Kind of HMG to make life easier for them again at our expense.
No wonder the UK is such an attractive destination. It certainly isn’t for our weather.
Meanwhile Visa has discovered a “hack” whereby unlimited amounts an be taken from your account during an innocent contactless transaction.
Makes you feel really secure, doesn’t it?
Crappy website (lost my post)
Visa did not discover it (they are ignoring it) only appys to apple pay and visa (mastercard the bug doesn’t happen)
Does not affect Google pay