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'Tap and go' payment limit increased to £20
31 May 2012

The maximum value of a contactless payment will rise to £20 on Friday (June 1st), up from the previous limit of £15.

It brings the UK in line with the rest of Europe where the maximum transaction amount for so-called 'wave-and-go' payments is set at 25 euros.

The change will come into effect by the end of June, the BBC reported.

It is likely to help further boost the rapidly-growing Near Field Communication (NFC) technology, which enables customers to make payments by tapping their contactless Visa, MasterCard or NFC-enabled smartphone against a contactless terminal.

Mark Austin, head of contactless at Visa Europe, believes that the technology is on the verge of major uptake.

"Our research tells us that people who experience contactless payment love the convenience and speed that it enables," he said.

The news comes as the Post Office confirmed it is preparing to roll out contactless terminals across its 11,500 branches, bringing a cashless society one step closer.