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Virgin Money Contactless Limit Increase.
kaMelo
Posts: 2,904 Forumite
in Credit cards
I've received an email from Virgin Money about increasing their contactless limit later in the year to £100.
I've not noticed any other posts about this or in the news section so thought I'd mention it
I've not noticed any other posts about this or in the news section so thought I'd mention it
1
Comments
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There was something mentioned in the news about 2 or 3 months back I think that there would be an increase for contactless in general. fueled no doubt by the concern about all our grubby covid infested fingers. I think most banks are being very slow to progress this and the stores aren't too eager either but no doubt it will happen eventually.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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No one card provider could go alone on this. Several years ago I was involved in the implementation of contactless terminals to a well known retailer and the contactless limit was contained in the firmware upload for each terminal.0
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Like the last increase from £30 to £45 it took a while for retailers to implement the changes into their payment systems. This will require a big change at banks end as well. As there are also changes to the number & amount of transaction involved. Which is not just a case of alter £45 to £100 & X transactions to Y transactions.
There is a lot of system testing going on..
https://www.fca.org.uk/news/press-releases/fca-confirms-increase-thresholds-contactless-payments
Life in the slow lane1
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