From September 2015 the UK spending limit on contactless cards will increase from £20 to £30 per transaction.
When the technology was first introduced the spending limit was £10, which increased to £20 following fast take-up of the payment method.
The increase to £30 follows a serge in the use of contactless payments in the UK, partly due to the introduction of contactless payments by London’s transport network.
Total transactions have more than tripled, from payments worth £653 million in 2013, to £2.32 billion last in 2014, with the total number of transactions reaching 319 million during the same period – 41 million (12%) of which were used by people using a London bus or tube since September 2014.
1 in 10 of all contactless payments within the UK during December 2014 were made by people commuting in London.
“Contactless has now firmly stepped into the mainstream. With usage soaring every month last year, we’ve seen people flocking to contactless payments as they switch away from cash.” Richard Koch, head of policy at the UK Cards Association