The FCA also confirmed the threshold for multiple contactless transactions before a customer is required to enter their PIN will also rise from £130 to £300. HM Treasury and the Financial Conduct Authority (FCA) confirmed changes to its rules to allow for the contactless limit increase to £100 in March 2021.

UK Finance manages the process for setting the industry contactless limit.

Representing around 300 firms across the industry, we act to enhance competitiveness, support customers and facilitate innovation. As people get back to the high street, millions of payments will made be simpler, providing a welcome boost for retailers and shoppers.įor more information please call the UK Finance press office on 020 7416 6750 or email UK Finance is the collective voice for the banking and finance industry. 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. The payments industry has worked hard to put in place the infrastructure to enable retailers to update their payments systems so they can start to offer their customers this new higher limit. The increase in the limit to £100 will allow people to pay for higher value transactions like their weekly shop or filling up their car with fuel. To check if a retailer has updated to the new limit, customers should either ask in store or follow the prompts on the card payment machine when paying.įor consumers spending more than £100 there are many ways to pay, for example through Chip & PIN, cash and alternatives such as mobile payments like Apple Pay or Google Pay which do not have an upper limit when authenticated through biometric technologies like fingerprint or facial recognition.ĭavid Postings, Chief Executive of UK Finance, said:Ĭontactless payment has proved very popular with consumers and an increasing number of transactions are being made using contactless technology. Given the number of terminals which will need to be updated to accept the new limit, it will take some time to be introduced across all retailers. It follows on from the successful increase in the limit from £30 to £45 in April 2020.įrom 15 October 2021, consumers will start to see retailers accepting contactless payments up to the new £100 limit, which will give customers more flexibility when shopping in store. The decision to raise the contactless limit from £45 to £100 was made by HM Treasury and the Financial Conduct Authority following a public consultation and in discussion with both the retail and banking sectors. The national roll-out of the new £100 spending limit for contactless card payments will begin from 15 October 2021, UK Finance announces today.

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