Mar 3, 2021
Budget 2021: Contactless payment limit lifted to £100
The government is lifting the legal limit on contactless card payments from £45 to £100 in a move to make shopping easier and boost struggling high street retailers. Chancellor Rishi Sunak presented the widely expected change as a Brexit win, as the UK is no longer bound by EU limits on contactless transactions. Contactless payments have soared in the past year as shoppers switched from cash in response to the Covid-19 pandemic and a raising of the spending cap last spring from £30. 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 across the UK.". The Treasury said the FCA had taken fraud risks into account and that last year's limit increase had not boosted crime levels.
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