Shoppers may soon be allowed to pay up to £100 with a single tap after the City regulator said it was looking at hiking the payment limit for contactless cards. announced Wednesday that it could rise further in response to changing consumer behaviour and a fall in the number of shops accepting cash payments during the Covid-19 outbreak.
It’ll need to be as prices rise in the face of scarcity
The obvious consequence of this will be the eradication of hole in the wall cash dispensers since the vast majority of transactions will be made via contactless debit. The end of cash is in sight and bad news to anyone who does not have a card or bank account. Good news for HMRC.
Rather negates the security of chip & pin.
Will banks allow you to set a limit upto £100? HSBC_UK Barclays NatWest_Help
Apparently we need to protect 'the cash infrastructure for those who can’t or aren’t ready to go digital.' a) contactless doesn't mean you have to bank online b) if you have to use the bloody card to get the cash out then you can pay with it...
People getting suckered by the greed of the Banks, the Mantra will be 'When you're Skint,You're Skint' as banks won't help everybody out if there is a Cashless Society.
This should be helpful for SmallBusiness .. we have noticed a real change over the last 12 months from cash to card.
Live scenes of the crackhead that steals my card.
We should be able to set our own limits based on the amount we can afford to lose should the card be stolen and fraudulently used.
Must be part of the ‘eliminating cash’ agenda
How are things with the capitol now?
Whenever you buy in cash, the pain centres of your brain light-up. Paying in cash literally hurts. Paying using plastic doesn’t trigger this pain. So — you spend more and don’t even feel it. Why do you think contactless payments and one-click buys exist?
Good good. The sooner we do away with cash the sooner we do away with tax evasion and hoarding
repent!! Prepare the way of the LORD!! Messiah is coming !! MegaWednesdayExpo
How about individuals reach an agreement with their bank on what personal limit should be? Does the tech for this exist? Then we could choose to be cautious, rather than have a random amount decided for us.
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