Daily Banking Industry News
Thursday 27th of May 2010

Banking Sectors:

By company:

By organisation:

New!

Also see:

March 2, 2010

Barclays increases contactless payment limit

by Gill Montia

Story link: Barclays increases contactless payment limit

Barclays has announced that its maximum limit for contactless card transactions in the UK has increased from £10 to £15.

The bank began rolling-out contactless payment technology in the UK in 2007, allowing customers to settle small transactions by holding their card over a “reader”, without the need to enter a PIN or insert the card into a terminal.

Since the launch, over two million contactless-enabled Barclays VISA debit cards and four million contactless Barclaycard credit cards have been issued.

Commenting on the latest move, the group’s head of debit cards, Brian Cunnington, says: “Contactless technology is undoubtedly the future of payments and we are seeing it grow hugely in popularity … it is the right time for the industry limit to increase to £15, in line with demand from consumers and retailers alike.”

 

Related stories to Barclays increases contactless payment limit:


Investment Banking News


Savings & Investment News


Borrowing & Lending News