Barclaycard is set to increase the spend limit for contactless payments to £45 from 1 April 2020.
The bank’s move comes to enable customers to complete more transactions without needing to touch card terminals or handle cash. This move also comes to help stop the spread of the coronavirus.
Deployment of the new systems will be prioritised for retailers in key sectors including grocery and supermarket stores, bakeries, pharmacies and petrol service stations. Other retailers will receive the service in due course, it said.
The current spending limit on contactless payments is £30, which has been the case since 2015. Contactless payments for Barclaycard customers began in 2007 with a spending limit of £10 per transaction across 22,000 payment terminals at transport for London locations and a further 6,000 retailers.
In 2010, the limit was increased to £15 and then in 2011 a partnership with Orange enables users to complete contactless payments via their mobile phones.
The following year saw Barclaycard release PayBand, which was the UK’s first wearable payment device. In conjunction with the, the bank increased its contactless spending limit to £20 and enabled contactless payments on London buses. Annual contactless payments reached £1bn in 2013.
Barclaycard Payments CEO Rob Cameron said, “It’s more important than ever for merchants and their customers to be mindful of their collective health and safety. We are proud to be taking a leadership position in the UK by commencing the deployment of a higher contactless threshold.
“By supporting the ability of customers to spend up to £45 via contactless, we are playing a part in helping UK consumers to pay safely and securely in these challenging times.”
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