LONDON (Reuters) – Banks will begin rolling out the new 100 pound ($137.02) spending restrict for contactless funds from October 15, Britain’s banking business physique UK Finance stated on Friday.
Contactless funds surged through the pandemic, with some retailers refusing to take money to assist forestall the unfold of COVID-19.
“Given the variety of terminals which is able to want to be up to date to settle for the new restrict, it’s going to take a while to be launched throughout all retailers,” UK Finance stated in an announcement.
The restrict on funds had already been elevated to 45 kilos from 30 kilos in April 2020, a month after the primary nationwide lockdown in (*15*) was launched.
(Reporting by Huw Jones; enhancing by Carolyn Cohn)
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