The UK Card Association on Tuesday announced that the limit for Apple Pay and other forms of contactless payments has been raised to £30 per transaction in the United Kingdom.
From today (Tuesday, September 2015) the upper limit for contactless payments increases to £30. Payment terminals are being updated to accept the new limit from today (TUESDAY, SEPTEMBER 1, 2015) and over a number of weeks to ensure national coverage.
Previously, the limit for Apple Pay and other contactless payments was set at £20. The Association says the new £30 payment limit is being introduced due to the popularity of contactless spending and as the increasing number of contactless cards in circulation. More money was spent using contactless payments between January and June of this year than in the whole of 2014.
Contactless spending has risen from £287 million per month in January 2015 to £567 million in June 2015, data from The UK Cards Association, the trade body for the cards payment industry, shows. In total, £2.5 billion was spent on contactless cards and devices in the first half of 2015, compared to £2.32 billion for the whole of 2014.
Apple Pay debuted in the United Kingdom six weeks ago, and is supported by credit card issuers Visa, MasterCard and American Express. UK banks offering Apple Pay to customers include: First Direct, HSBC, MBNA, Nationwide, NatWest, Royal Bank of Scotland, Santander and Ulster Bank. Bank of Scotland, Halifax, Lloyds Bank, M&S Bank and TSB are expected to come on board shortly.