Mar 3, 2021
Budget 2021: Contactless card limit will rise to £100
The use of contactless technology by consumers has risen sharply in recent years, with more services adopting the technology and most shops offering it as an option. A total of £8.4bn was spent on credit and debit cards using contactless during that month. Chancellor Rishi Sunak said: "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." There have been worries raised about contactless limits being raised further. "Ian Johnson, managing director, Europe, at payment business Marqeta, said:"The problem with increasing limits on physical contactless cards is if they are stolen or cloned, it will now be even easier for a fraudster to spend large sums of the victim's money in one go.
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