Contactless payment cap in UK to increase

The spending caps for contactless payments in the UK will be increased to £30. The announcement was made on Monday by the UK Cards Association.

This decision has been made because of the sharp increase in the usage of contactless payments in the UK. The total number of transactions went from 653 million in 2013 to £2.32 billion last year.

Responding to the latest data, Richard Koch, Head of Policy at The UK Cards Association, said: "Contactless has now firmly stepped into the mainstream. With usage soaring every month last year, we’ve seen people flocking to contactless payments as they switch away from cash. For retailers, contactless means quicker queues at the tills and greater convenience for their customers.”

In September 2014, Transport for London launched contactless payments across the transport network in the capital.

Since the launch, 41 million journeys have been made so far using contactless, with around 415,000 journeys now made every day.

Shashi Verma, TfL's Director of Customer Experience, said: "It is fantastic to see the popularity of contactless continuing to grow across the UK. We have seen over 41 million journeys made across London using contactless within just five months. Using contactless payments to travel can save our customers time, they don't need to stop to top-up an Oyster card, or buy a ticket and can benefit from daily and Monday to Sunday capping."

The contactless cards were first introduced in 2007, and back then they had a payment cap of £10.