I was interested to read that the UK Card Association has announced that the £20 daily limit for contactless card payments will be raised to £30. This means that you can, for example, tap your card and buy £30 worth of hamburgers from McDonald’s for the family. In the old days you would need to put in your PIN to make every purchase.
Being more of the old days than the present, I can recall the introduction of the PIN (Personal Identification Number. The initial interest in replacing cash came from supermarkets and petrol stations. It was considered quite a big step and BP at the time helped their customers with the concept of putting your secret number in with their staff. I can remember standing behind an elderly lady who told the cashier to look on the back of the card where she had written her PIN down so she would not forget it!
No doubt fuelled by the acceptance of contactless payments on the tube and bus services, it is reported that Londoners use contactless cards to pay for 30% of their purchases below the limit. For the whole of the UK there has been a tripling of transactions from £653 Million in 2013 to £2.32 Billion in 2014.
I guess that means that the public has accepted contactless payments and perhaps we can forecast higher daily limits in the future. This is the case in other countries such as Australia where the present daily limit was set in 2009 as $100 (£46).
BritPay supplies most terminals with the contactless function build in.
Please contact us if you have any questions about this payment method or anything else to do with payment. We will be delighted to help you.
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support@britpay.co.uk
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