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4 Nov 2021

The Government has launched a new Export Support Service to help UK businesses get answers to practical questions about exporting to Europe.

4 Nov 2021

The Scotland Cycle Repair Scheme was announced today by Patrick Harvie (MSP, Minister for ZeroCarbon Buildings, Active Travel and Tenants' Rights) at the Cycling Scotland Conference.

1 Nov 2021

ACT and ActSmart partner Global Payments (GP) will be contacting all customers to arrange the replacement of your terminal(s) to keep you up with modern requirements for no extra cost.

27 Oct 2021

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27 Oct 2021

During the Maybe* monthly masterclass you'll discover each month which bike shops have had the most social media engagement and why - catch up on last week's now.
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26 Oct 2021

NeartSt is now available to ActSmart subscribers from just £9 per month with no lock-in (30 day rolling contract). In addition to this, ActSmart Gold subscribers can...

26 Oct 2021

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25 Oct 2021

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21 Oct 2021

A recent article featured in Forbes has advised independent retailers to plan ahead this Christmas, especially with regard to e-commerce, stock quantities and COVID restrictions.

19 Oct 2021

The FCA have recently announced significant increases in their base ratefees that will have an unfavourable effect, particularly on smaller independent retailers.

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Contactless limit to increase to 100 from 15 October

Posted on in Business News , Cycles News , Political News

UK credit-cardFinance have announced that the national roll-out of the new £100 spending limit for contactless card payments will begin from 15 October 2021.

The decision to raise the contactless limit from £45 to £100 was made by HM Treasury and the Financial Conduct Authority following a public consultation and in discussion with both the retail and banking sectors. It follows on from the successful increase in the limit from £30 to £45 in April 2020.

From 15 October 2021, consumers will start to see retailers accepting contactless payments up to the new £100 limit, which will give customers more flexibility when shopping in store. Given the number of terminals which will need to be updated to accept the new limit, it will take some time to be introduced across all retailers. To check if a retailer has updated to the new limit, customers should either ask in store or follow the prompts on the card payment machine when paying.

For consumers spending more than £100 there are many ways to pay, for example through Chip & PIN, cash and alternatives such as mobile payments like Apple Pay or Google Pay which do not have an upper limit when authenticated through biometric technologies like fingerprint or facial recognition.

David Postings, Chief Executive of UK Finance, said:

Contactless payment has proved very popular with consumers and an increasing number of transactions are being made using contactless technology. The increase in the limit to £100 will allow people to pay for higher value transactions like their weekly shop or filling up their car with fuel. The payments industry has worked hard to put in place the infrastructure to enable retailers to update their payments systems so they can start to offer their customers this new higher limit.

The Chancellor Rishi Sunak said:

Increasing the contactless limit will make it easier than ever to pay safely and securely - whether that's at the local shops, or your favourite pub and restaurant. As people get back to the high street, millions of payments will made be simpler, providing a welcome boost for retailers and shoppers.

 

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