The limit on contactless spending in the UK is set to rise to £100, although the change may not be rolled out to shops until later in the year, according to The Quardian.
The limit on tap-and-go card spending was increased to £45 last year as retailers sought ways to cut the need for physical contact in shops amid the Covid pandemic, and in January plans were announced to more than double it.
The change will be confirmed in Wednesday’s budget.
The chancellor, Rishi Sunak, said the change would provide a boost for shops.
“As we begin to open the UK economy and people return to the high street, the contactless limit increase will make it easier than ever before for people to pay for their shopping, providing a welcome boost to retail that will protect jobs and drive growth,” he said.
The higher limit will be legally in force from Wednesday but behind the scenes, systems will need to be changed, so it is likely shoppers will not notice the difference until later this year.
The Treasury said the change was made possible by the UK’s departure from the EU, which meant the country was no longer bound by a £45 limit set by the bloc.
The Treasury added that it was “committed to protecting access to cash”, although no new legislation has been announced.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
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