Now UK has the highest limit for contactless card payments in Europe. Photo: Shutterstock
The UK residents using a contactless form of payment see their limit change today from £20 to £30 (approximately €40), says The Guardian. This widens the usage of the payment form, as the higher limit enables making most of the average everyday purchases without using a PIN code.
In US, some forms of contactless payment, such as Apple Pay for example, doesn’t have any limitations for usage – but the phone is providing a security layer that the credit card doesn’t. On the other hand, the rather low security limit for contactless card payments made acts itself as an anti-fraud system.
In comparison to UK, the limit for contactless card payment is €25 in Finland and €20 in Norway and Denmark.
For the month of June, the contactless card transactions made in UK reached a total of £81.2 million – And with the opening of Apple Pay and with the new limit of 30 pounds, one might think that the transactions will rise.
We wonder when the rest of Europe will follow UK?