People in the UK will be able to make contactless payments up to a new limit of £100 from the 15th of October 2021.
The new limit – announced by the UK Chancellor of the Exchequer Rishi Sunak in his March Budget Speech – will be lifted from £45.
The contactless payment limit was only recently lifted from £30 to £45 in April 2020 in response to the Covid-19 pandemic, which saw a huge rise in tap and pay payments at the expense of cash.
According to UK Finance, the number of contactless payments in the UK during 2020 increased by 12% to 9.6 billion payments. Contactless payments accounted for over a quarter of all UK payments last year, with cash transactions falling 35%.
Sunak previously commented, “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 be made simpler, providing a welcome boost for retailers and shoppers.”
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