Published on 1st September 2015 | by Tim
Apple Pay Transaction Limit Raised To £30 In The UK
When Apple Pay was launched in the UK back in July it was subject to a £20 transaction limit at most retailers. Today that limit has been raised to £30 for all contactless payments, some retailers can accept higher limits depending on the equipment and software used.
Transaction limits are put in place by the card payments industry and prevent the need for shoppers to enter their PIN number for low value transactions. Using a contactless payment card you can simply tap your card to the reader to pay for goods.
The increase, whilst welcomed, perhaps doesn’t go far enough in an age where technology is spearheading the growth in contactless payments. There have been a number of mobile payment solutions to date, but none have really taken off until the introduction of Apple Pay. Various competitive payment solutions have also been introduced recently and as consumer adoption increases there will be a need for higher transaction limits.
If you’re using Apple Pay with an iPhone or Apple Watch then from today you can take advantage of the new limit. It may take a few weeks for some retailers to update their terminals, in the meantime the £20 transaction limit will remain in force.