The payment world has evolved from cash transactions into a cashless ecosystem, as customers want to check out and pay for their goods with as little friction as possible. Contactless payments are on the rise in various countries, and in the United Kingdom, the average contactless payment transaction limit has been increased by 50%. Regardless of this change, additional infrastructure is required for merchants who want to make use of this system.
Not all Payment Terminals Support the new Limit Automatically
In the United Kingdom, card payment terminals are a very common sight, as less consumers use cash payments year over year. From a convenience point of view, card payments seem to make a lot of sense, but they could be improved by not having to show your card to a cashier. As a result, contactless card payments were born and have become a major trend in the UK.
Raising the transaction limit