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UK contactless limit raised to £15

UK contactless limit raised to £15

The maximum limit for contactless card transactions in the UK has increased from £10 to £15 ($15 to $22.6) following a push by payment networks Visa and MasterCard and bankcard issuer Barclays to bring the UK more in line with contactless limits across Europe.

 

Latest Headlines

Region round-up: N.America

Regional round-up: Latin America

UK contactless limit raised to £15

Citi pushes prepaid in Australia

Region round-up: Europe, Middle East, Africa


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Latest Features

Visa positions prepaid in Middle East

An estimated 65 percent of the Middle East region’s population is under the age of 30 and real GDP per capita increased by about 4 percent per year from 2004 to 2006. In markets such as Qatar and Bahrain, real GDP growth per year is in the double-digit range, far outstripping GDP growth in developed card markets. Huge resources of natural energy and capital inflows in markets like Saudi Arabia and the United Arab Emirates (UAE) have helped to underpin rapid economic growth which has trickled down into increasing consumer wealth, helping to drive the growth of the service and financial industry sectors.

Chile country survey

With a population of 17 million as of 2009, and an emerging middle class, Chile represents an increasingly important growth spot for payment cards. During the past decade, socioeconomic and cultural factors have converged to position payment cards and other forms of electronic payment as increasingly important elements of the country’s economy.

Taking security to next level

Many of the largest banks in the US have been steadfast in their refusal to adopt EMV as a standard security measure on their payment cards and terminals. Much of the motivation behind this decision boils down to the enormous outlay that would be needed to replace current processing systems, especially ATM networks.

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