Get US and UK politics insight with our free daily email briefing straight to your inbox Sign up Thank you for subscribing We have more newsletters Show me See our privacy notice Invalid EmailRishi Sunak is considering raising the limit on contactless payments from £45 to £100, it has been reported. Banks have been pushing the Chancellor to lift the cap on transactions for months, now that the UK is no longer held to the EU limit of 50 Euro per transaction. The Financial Conduct Authority launched a consultation into the move two weeks ago, after data showed contactless technology accounted for 41% of all transactions. (Image: REUTERS)When "tap and go" contactless cards were first introduced in 2007, they had a limit of £10. Last year, the European Commission agreed to increase it to £45 or €50 to reduce cash transactions during the crisis.

Source: Daily Mirror February 07, 2021 09:11 UTC