Over seven million contactless payments using new upper limit
Since the introduction of a contactless higher transaction limit on April 1st, Barclaycard has processed more than seven million contactless payments above the previous limit.
The higher limit of €50/£45 was introduced to hep prevent the spread of Covid-19 by limiting the number of cash transactions and reducing queue times.
Barclaycard data also revealed that 43% of in-store transactions between £30/€30 and £45/€50 are now made using contactless.
Deployment of the new limit is being prioritised for retailers in key sectors, including petrol service stations, grocery and supermarket stores, bakeries and pharmacies.
Rob Cameron, CEO of Barclaycard Payments, commented: “We want to play our part in helping to prevent the spread of COVID-19, so we are delighted to have reached seven million transactions so quickly.
“We would like to thank our clients both large and small for working with us to make the required changes, and for promoting the new limits to consumers. This rapid adoption would not have been possible without them.
“We believe that contactless is the safest, fastest and most responsible way to pay in store, and we encourage all consumers to take advantage of the new higher limit where possible.”