• Transaction Limit for Apple Pay in the UK Increased to 30 Pounds

    Both iPhone and Apple Watch owners can now make touchless payments of up to 30 pounds without the need for entering a PIN number of signature. The UK Cards Association, which is a national credit card payments industry group, raised the upper limit which was previously constrained to 20 pounds.

    The trade association claims that the higher limit comes as it recognizes wide contactless card adoption and use, as well as an extremely low rate of fraud. Consumers who are using touch-to-pay technology ended up spending more during the first six months of the year than in all of 2014 according to the group. More specifically, the UK Cards Association saw transaction volumes from touchless cards and devices jump from the previous 287 million pounds in January to 567 million pounds in June, which equates to a six-month total of 2.5 billion pounds.

    The President of MasterCard UK & Ireland, Mark Barnett, had the following to say regarding the matter:

    The pace of growth we are seeing in contactless is getting ever faster as we rely less and less on cash. Consumers enjoy the speed and convenience of tapping to pay. We expect this upward trend to persist with consumers continuing to migrate to contactless card payments and increasingly to mobile payments, as we work with partners such as Apple to enable more convenient ways to pay.
    This higher cap now covers what appears to be the average 25-pound supermarket transaction as well as common prices for tabs at bars, movie theaters, gift shops and more. The point of sale terminals across the UK are being updated to reflect the new limit change with coverage to spread nationwide in the next few weeks.

    Source: The UK Cards Association (News)
    This article was originally published in forum thread: Transaction Limit for Apple Pay in the UK Increased to 30 Pounds started by Akshay Masand View original post
    Comments 1 Comment
    1. docmagoo2's Avatar
      docmagoo2 -
      And most people don't realise you can use apple pay at ANY shop that supports contactless payment. Pity there weren't more UK banks support apple pay!!!
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