The £45 limit for a single contactless payment in the UK will reportedly rise to £100 later this year.
The change is said to be announced as part of the Spring Budget today.
The Chancellor of the Exchequer, Rishi Sunak, said: “As we begin to open the UK economy and people return to the High Street, the contactless limit increase will make it easier than ever before for people to pay for their shopping, providing a welcome boost to retail that will protect jobs and drive growth.”
Many consumers have moved away from using cash since the start of the pandemic. Indeed, the contactless payment limit was raised from £30 to £45 on 1 April 2020, during the first lockdown to minimise cash handling.
According to research by in-store shopping app Ubamarket, half of Brits haven’t used cash since the start of lockdown restrictions last year. While 40 per cent said that they will no longer use cash for shopping or hospitality purchases.
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