A request by payment processors Visa and MasterCard to raise the maximum allowed value of contactless payments in the UK has been approved by local banks and other card issuers, BBC reports.
Thus, the maximum value of contactless payments (which can be carried out without inputting a PIN) has been raised from GBP 10 to GBP 15. Visa and MasterCard’s request aimed to bring the UK in line with the Eurozone, where the maximum allowed value for contactless purchases is EUR 25 (around GBP 22).
Using contactless technology, consumers can carry out payments simply by waving their contactless-enabled devices (cards, other tokens mobile phones) over a sensor, with the value of the purchase being automatically deducted from their accounts or added to their credit card bills.
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