×
6 516
Fashion Jobs
HOLLISTER CO. STORES
Hollister CO. - Graduate Manager in Training, George Street
Permanent · Edinburgh
HOLLISTER CO. STORES
Hollister CO. - Graduate Manager in Training, Braehead
Permanent · Renfrew
JOHN LEWIS
Section Manager Warehouse
Permanent · WEYBRIDGE
HARRODS
Concessions HR Manager
Permanent · LONDON
HARRODS
Stock Operative
Permanent · LONDON
HARRODS
Restaurant General Manager
Permanent · LONDON
HARRODS
CRM Executive Customer Data
Permanent · LONDON
OYSHO
New Store Opening - Oysho White City - General Manager
Permanent · LONDON
HARRODS
Uniformed Security Officer
Permanent · LONDON
HARVEY NICHOLS HEAD OFFICE
Ecommerce Director
Permanent · LONDON
NEXT
Sales Coordinator - Galashiels
Permanent · HUDDERSFIELD
SPORTS DIRECT
Loss Prevention Supervisor
Permanent · LEICESTER
SPORTS DIRECT FITNESS
Assistant General Manager - Everlast Fitness
Permanent · BURY ST EDMUNDS
SPORTS DIRECT FITNESS
General Assistant - Everlast Gyms
Permanent · BURY ST EDMUNDS
SPORTS DIRECT FITNESS
General Manager - Everlast Fitness
Permanent · RUGBY
EVERLAST GYMS
General Manager - Everlast Fitness
Permanent · STOKE-ON-TRENT
AESOP
Retail Consultant | Full-Time | Aesop st James Quarter, Edinburgh, Scotland
Permanent · London
HEAD OFFICE
Merchandise Planner – Food & Grocery Merchandising
Permanent · BRACKNELL
HEAD OFFICE
Digital Product Manager
Permanent · LONDON
NEXT
Delivery Coordinator - Llandudno
Permanent · LLANDUDNO
NEW LOOK
Sales Manager
Permanent · STRETFORD
EVERLAST GYMS
General Assistant - Everlast Fitness
Permanent · NETHERFIELD
Ads
Published
Aug 27, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

UK to raise contactless payment limit to £100

Published
Aug 27, 2021

In a major move to make shopping easier, a new £100 spending limit for contactless payments in Britain will start on October 15, after the go-ahead was given by the Treasury and the Financial Conduct Authority on Friday.


Touchwood shopping centre, Solihull



Contactless payments have been hugely popular since they were first introduced and the pandemic only added to their appeal. But the spending limit hadn’t kept pace with consumer expectations in previous years and it was only raised to £45 from £30 because of shops being unwilling to take cash during the pandemic. 

The new £100 limit should help to speed up queues in many more stores as consumers will now be able to use contactless for more substantial basket sizes in stores. It's likely to be used more often in fashion stores than previously.

Of course, with fears that a higher contactless payment limit could encourage crime, there will be safeguards. At present, there’s a £130 threshold at which a shopper must start to enter their PIN number if they’ve been making multiple contactless purchases. This won’t be practical for a £100 limit, so that threshold is being raised to £300.

The mid-October date will only be the start of the rollout as banking body UK Finance said that “given the number of terminals which will need to be updated to accept the new limit, it will take some time to be introduced across all retailers”.

Even with the lower spending limit at present, contactless payments already accounted for just about half of all credit card and two-thirds of all debit card transactions in May, UK Finance said. That was double the same month a year earlier, although given that the UK was still in full lockdown back then, it’s not the most useful comparison figure.

Copyright © 2022 FashionNetwork.com All rights reserved.