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

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Contactless payment limit increased to £15

Contactless payment limit increased to £15

Category: Credit cards

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

MONEYFACTS ARCHIVE
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 It is now over 6 months old so the content may be out of date.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Consumers have seen the way they are able to pay for goods change markedly over the last decade, with a signature superseded by chip and PIN technology, and now the emergence of contactless methods.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 Moneyfacts.co.uk forum.

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