Contactless use grows since limit increase

June 05, 2020 | Payments

Written by FinTech Alliance

Contactless use grows since limit increase

Barclaycard has reported a significant increase in contactless use since the limit changed.

In Brief:

  • The brand says it’s processed over 25mn contactless payments above £30.

  • Total value of these payments is over £900mn.

  • The cap was raised to £45 on 1 April.

 

What does this mean?

It’s been two months since the Government allowed the limit to be raised but its implementation has depended on individual merchants, so we may well see further figures over the coming months. The limit was raised to help stop the spread of coronavirus by not having to touch devices while shopping. The average among paid, according to Barclaycard, was £36.29.

Read more here.

 

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