News

Most Apple Pay UK transactions to be limited to GBP 20 for the time being

Friday 26 June 2015 11:00 CET | News

Apple Pay will launch in July 2015 in the UK, but it will work differently than it does in the US.

According to an official Apple FAQ, Apple Pay will still allow customers to use their iPhone or Apple Watch to make contactless payments at merchants and will still not require a PIN (as is standard with UK Chip-and-PIN payments), but there is going to be a GBP 20 limit for transactions made via the service at some merchants that have this limit for their payment terminals. Therefore, customers might need to insert their card if the transaction amount is over GBP 20.

In the US, which did not have an established contactless network when Apple Pay launched in 2014, many merchants installed their first contactless terminals specifically to accept the technology.

In the UK, meanwhile, contactless payments have been around for eight years, so many retailers have older infrastructure. Since most of the retailers that will accept Apple Pay when it arrives in the UK next month will simply be using standard contactless debit and credit card terminals, they will still have the GBP 20 limit.

However, the limit for contactless transactions is expected to jump to GBP 30 per transaction in September 2015.


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Apple Pay, UK, transactions , limited, contactless payments, terminals, contactless, debit, credit, card, mobile payments
Categories: Payments & Commerce
Companies:
Countries: World
This article is part of category

Payments & Commerce






Industry Events