This article was written by Sarah Kenshall.
Contactless fraud on payment cards and devices remains low which is one of the reasons why the finance and payments industry has been considering increasing the spending cap for contactless card payments for a while now. UK Finance, the body that represents the banking and finance industry, has announced the spending limit for contactless payments will be increased from £30 to £45, with a national roll-out beginning from 1 April 2020. However, it won’t happen overnight. The software on card payment machines needs updating to accept the new limit, a process which will happen gradually. In the meantime, there are contactless alternatives with higher limits, in particular mobile payments, when authenticated with a PIN or biometrics.