Contactless card payments rise by a third with transaction limit set to increase

first_img A wider adoption of the technology on public transport and in more high street retailers is part of the reason. Read more: DEBATE: Is biometric technology the future for digital payments?The current payment limit with a contactless card is £30, more than which a Pin must be used. But an increase in usage throughout 2018 is expected to lead to an increase in that maximum, although those using Apple Pay are already able to spend more than that limit in most retailers.Payments on contactless debit cards were up 29 per cent last year too, with more than 6.3 payments made worth a total of £58bn, according to UK Finance, while there was increase in contactless credit card payments of 44 per cent. Contactless card payments rise by a third with transaction limit set to increase whatsapp Michael Searles Friday 15 March 2019 3:15 pm whatsapp Tags: Trading Archive Share Every two in five card payments are made with contactless technology according to new data. Contactless transactions rose 31 per cent year-on-year in 2018, data from banking trade body UK Finance revealed, demonstrating a growing confidence in paying without use of a Pin. More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikePast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGembonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comPost FunA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserPost FunNews SharperGrab A Tissue Before You See Richard Simmons At 72News SharperQuizscapeQuiz: 9 Out Of 10 People Can’t Name These Famous ComediansQuizscapeNext RefinanceThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryNext RefinanceTaco RelishPhotos Show The Differences Between Kate & Meghan’s Parenting StylesTaco RelishG InsuranceExperts Discover Girl Born From Two Different SpeciesG Insurance The average spent per transaction on any card by any means was £35. Read more: Natwest’s fingerprint payments let you override £30 contactless limit”Many of us are now reaching for our cards or mobiles rather than cash to make low-value purchases, as customers opt for the convenience and security of paying with contactless,” Eric Leenders, managing director of personal finance at UK Finance, said.”There has also been an increase in credit card use although growth in outstanding balances has slowed, suggesting many consumers are using their cards for day-to-day spending rather than as a means of borrowing.”It comes after a report earlier this month said that cash was at risk of disappearing without action from regulators and the government. last_img