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Responding to the Chancellor's announcement that the legal contactless payment limit will increase to £100, chief executive of UK Finance David Postings said:
UK Finance welcomes the flexibility to increase the contactless limit to £100. This is a great move for customers and will allow them to use contactless to pay for higher value transactions like their weekly shop or filling up their car with fuel. "This could not have been achieved whilst still in the EU so is a true Brexit dividend. We will work closely with the payments sector and retailers ahead of increasing the limit later this year.
UK Finance welcomes the flexibility to increase the contactless limit to £100. This is a great move for customers and will allow them to use contactless to pay for higher value transactions like their weekly shop or filling up their car with fuel.
"This could not have been achieved whilst still in the EU so is a true Brexit dividend. We will work closely with the payments sector and retailers ahead of increasing the limit later this year.
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