Contactless payment limit increased to £15 - Credit cards - News - Moneyfacts

News News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Contactless payment limit increased to £15

Contactless payment limit increased to £15

Category: Credit cards

Updated: 02/03/2010
First Published: 02/03/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
The maximum contactless card transaction in the UK has been increased from £10 to £15.

There are currently more than two million contactless Barclays VISA debit cards and four million contactless Barclaycard credit cards in circulation in the UK.

First introduced in 2007, they allow customers to make small transactions by holding their cards over a special reader, of which there are currently 20,000 in various stores across the UK.

Consumers have seen the way they are able to pay for goods change markedly over the last decade, with a signature superseded by chip and PIN technology, and now the emergence of contactless methods.

In addition, the age old method of the cheque is being phased out.

More retailers are expected to implement the technology as a result of the increased limit.

The cards retain their function as a normal debit or credit card and periodically prompt the customer to confirm their PIN to verify their identity.

Brian Cunnington, head of debit cards for Barclays, said the decision to raise the maximum contactless payment was made in line with feedback from consumers and retailers.

"Contactless technology is undoubtedly the future of payments and we are seeing it grow hugely in popularity," he added.

What do you think of contactless payments? Discuss this topic and more on the forum.

Find the best credit card for you - compare credit cards

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Credit card mistakes cost borrowers £948m

At this time of year, many people could be turning to balance transfer credit cards in an attempt to overcome their Christmas debt. However, many of these borrowers could get caught out in the year ahead, and they could end up paying for it.

6 of the best balance transfer credit cards

Does the thought of opening your credit card bills fill you with fear? If so, you're not alone! Christmas may be over, but unfortunately, many people will still be paying for it, after turning to credit to cover the cost of their festive spend.

Get a better credit score for the New Year

A new year means a fresh start, and one of the best things you can do is take a cold, hard look at your finances – particularly when it comes to your credit score.