Breaking-Finance.Com - In the wake of Brexit, banks are pushing the UK government to increase the contactless payments limit to £100, breaking with an EU cap of £45. Industry body UK Finance has pitched the increase to the Treasury, according to the Times newspaper. The Financial Conduct Authority would also need to approve the change.

. In September, contactless accounted for 64% of all debit card transactions and 46% of credit card transactions, according to UK Finance.Contactless payments first arrived in the UK in 2007, with a £10 ceiling which has been gradually increased over the last decade.

Source = Breaking-Finance.Com

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