MoneySaving Poll: Should the contactless card spending limit be increased?

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Former_MSE_Sam_M
Former_MSE_Sam_M Posts: 346 Forumite
in MoneySaving polls
Poll started 13 June 2016

Should the contactless card spending limit be increased?

There are now more contactless debit and credit cards in the UK than people – over 86 million of them. The average transaction is just £8.40, the limit is £30 – done to cap spending if someone takes your card.


What would you like the limit per transaction to be?



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Comments

  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    Combo Breaker First Post
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    If they could create a card with a fingerprint reader in it so only the registered card holder can use the card then security would be greatly improved and the limit could then be unlimited. There would be no need for PIN's at all.

    Oh...they have. Why don't consumers want that? Too expensive.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • Ectophile
    Ectophile Posts: 7,368 Forumite
    First Anniversary Name Dropper First Post
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    I don't have any contactless cards, and don't want any either. It's a stupid idea that should never have been invented.

    They replaced the old signatures with chip & PIN to make it more secure. Now they've added a new system with no security whatsoever.
    If it sticks, force it.
    If it breaks, well it wasn't working right anyway.
  • fromdusktilldawn
    fromdusktilldawn Posts: 49 Forumite
    Name Dropper First Anniversary First Post
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    Improve the security (finger prints or similar) and allow people to decide what limit they want, none at all if they prefer. I think I would like to select which of my cards have the technology, and set it to zero on all of my remaining cards. Liz
  • colsten
    colsten Posts: 17,597 Forumite
    First Anniversary Photogenic Name Dropper First Post
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    As most people who'd be interested in contactless payments have smartphones / smartwatches, there's no reason to increase the limit on the cards. Retailers should accept Apple Pay / Android Pay etc up to the card limits. Many already do - e.g. Waitrose, M&S, and even my hairdresser!
  • robin58
    robin58 Posts: 2,802 Forumite
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    colsten wrote: »
    As most people who'd be interested in contactless payments have smartphones / smartwatches, there's no reason to increase the limit on the cards. Retailers should accept Apple Pay / Android Pay etc up to the card limits. Many already do - e.g. Waitrose, M&S, and even my hairdresser!

    I'm interested in Contactless and use it now.

    But why would I want to buy a phone or watch which can cost up to £700 to able to use contactless payements, when I can get a card from my bank for FREE.
    The more I live, the more I learn.
    The more I learn, the more I grow.
    The more I grow, the more I see.
    The more I see, the more I know.
    The more I know, the more I see,
    How little I know.!! ;)
  • Peirre
    Peirre Posts: 16 Forumite
    edited 15 June 2016 at 9:43AM
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    With the availability of android apps that use the RF technology of mobile phones, samsung's S-beam feature of the "Galaxy" range of phones being one the mobile phone with RF technology I can think of, thieves can use to skim your card without you knowing. The same apps can then be used to transmit that info to a payment terminal moments later. This demonstrates the vulnerability of contactless cards and the need to keep a cap on spending limits at payment terminals. However with a cap it doesn't stop thieves who steal your card info using it to to make high value purchases online, which has be demonstrated on tv.
    I'd rather see people given the option to have non contactless chip & PIN cards.

    My final advice would be, if your going somewhere which could be a crowded public space (down the pub etc) and you don't really need your cards because your paying cash, leave your cards at home
  • Mark_Beech
    Mark_Beech Posts: 77 Forumite
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    I clicked on the £100 option before realising that there was an option to select "negotiate your own limit" ..... which I think is the best option.
    I'm not sure what the current rules are with respect to compensation ..... but clearly it would be best if the card companies were responsible for covering any losses as a result of any fraudulent use of the cards. This would probably lead the card providers to keep the limit at £30.
    Mark
  • Pegase
    Pegase Posts: 11 Forumite
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    colsten wrote: »
    As most people who'd be interested in contactless payments have smartphones / smartwatches, there's no reason to increase the limit on the cards. Retailers should accept Apple Pay / Android Pay etc up to the card limits. Many already do - e.g. Waitrose, M&S, and even my hairdresser!
    Android Pay doesn't work with rooted phones.. and I've much more use of my phone rooted than of Android Pay
  • andyfras_2
    andyfras_2 Posts: 21 Forumite
    First Post First Anniversary Combo Breaker
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    I think that £30 is OK. It's not too much of a hardship to put in a PIN for larger amounts.

    Unfortunately, contactless cards don't last long in my wallet before they get cracked; this breaks the contactless aerial which runs around the edge of the card. The card is still fine for PIN payments, as the chip and contacts are unaffected.
  • lic
    lic Posts: 275 Forumite
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    When I use my English chip and pin card in Spain, I have to always enter my pin. Even on Spanish bank chip and pin cards you have to enter a pin every time you use it. I understand the advantage of not having to swipe/insert the card, as a tap is much quicker, but for security reasons you should always have to enter a pin.
    Lic.
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