Chancellor increases contactless limit to £100

The government is more than doubling the legal limit for single contactless payments from £45 to £100.

According to Visa, almost 80 per cent of in-store payments in the UK are currently contactless.

The move, which was announced in chancellor Rishi Sunak’s spring Budget, has been largely welcomed by the payments sector and financial services industry.

“UK Finance welcomes the flexibility to increase the contactless limit to £100,” said David Postings, chief executive at UK Finance, which represents more than 250 financial institutions. “This is a great move for customers and will allow them to use contactless to pay for higher value transactions like their weekly shop or filling up their car with fuel.

He added: "This could not have been achieved whilst still in the EU so is a true Brexit dividend. We will work closely with the payments sector and retailers ahead of increasing the limit later this year.”

Jeni Mundy, managing director UK & Ireland, Visa said: “The decision to raise the contactless limit to £100 is a good move for British shoppers and for our High Streets alike. Contactless payments offer a fast, secure and seamless payment experience. We stand ready to work with our clients and partners to support the Government and the FCA to make this happen as soon as possible, so both consumers and retailers can benefit as the economy opens up.”

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