The New £100 contactless limit

Topic: Payment News (Mon 25th Oct 2021)

Back in April 2020, HM Treasury and the FCA opted to increase the floor limit on card payments from £35.00 to £45.00 as a part of COVID19 measures. In practice, this has worked well, with customers being able to spend a little more before authorisations are required.

As of October 15th 2021, the new £100 floor limit allows customers to purchase goods and services up to the value of £100 without having to enter their PIN.

What do I have to do?

The good news is that Nexpay has already implemented the change for its customers. If you have Nexpay terminals and accounts, your customers can pay contactless for up to £100. Handy if your business is dealing with higher ticket items or FMCG bulk buys like supermarkets and fuel.

If you have any questions or concerns about these changes, please do not hesitate to contact us.

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