Finance industry leaders are reportedly pushing for the contactless payment limit to rise from £45 to £100 now that the UK has left the EU.
According to The Times, UK Finance – a trade association for the UK banking sector – has revealed that the idea of a spending cap increase has been pitched to the Treasury, with finance industry leaders saying it would make things including eating out and shopping in supermarkets less of a coronavirus (COVID-19) risk.
The lobby group is hoping to push the move with card providers, but the Financial Conduct Authority (FCA) is required to agree to this order for it to take effect.
The current cap was set by the European Commission, but now that Brexit has happened, this could be changed.
Contactless cards were first brought in in 2007, when they had a spending limit of £10, but in April, the limit was raised from £30 to £45 in order to help curb the spread of coronavirus (COVID-19) as it means less contact with PIN pads and less time spent interacting with shop staff.
UK Finance say that the proportion of contactless payments peaked in September – where the value of contactless transactions in was £8.2 billion in total, up from £7 billion in September 201 – with it now making up 64% of all debit card payments, and since then, banks have also surprisingly not seen any higher levels of fraud either.
The Times said that it believed the response to upping the limit had been positive, suggesting it could be a way to prove that Brexit has meant a move away from EU rules.
It would also be less contentious than other things like food or wages.
Eric Leenders – Managing Director of Personal Finance at UK Finance – said: “September saw the proportion of contactless debit card payments hit a record high for the second month in a row, rising to 64% of total transactions in August.
“The value of overall contactless spending was also up by over 18% compared to the same period last year, as consumers made further use of the increased £45 contactless spending limit [and] debit card spending remained a preference as consumers continued to opt for more immediate settlement of payments as a means of managing their finances amid this year’s economic uncertainty.
“The total spend of £58.5 million was much the same as in August, but 12.8 per cent higher than in September last year.
“Given the popularity of debit card spending, the annual growth of outstanding credit card balances continued to contract, dropping 14% over the year to September as repayments continued to outstrip new borrowing.”
Coca-Cola confirms the Christmas Truck is coming to Manchester this weekend
Coca-Cola has finally confirmed the news we’ve all been waiting for… the Christmas Truck will be in Manchester this weekend.
December is here, the temperatures have plummeted outside, and the ‘most wonderful time of the year’ is nearing closer and closer by the day – but it’s not Christmas until you’ve gone and got a Coca-Cola from the giant red van is it, right?
Well luckily, we won’t have to wait too much longer to get to do that once again.
The soft drinks company confirmed that ‘Holidays Are Coming’ a couple of weeks back, with the UK tour of the iconic Coca-Cola Christmas Truck now well underway, and having visited other major northern cities such as Leeds and Liverpool over the last few days.
And now, Coca-Cola has revealed that the legendary van is coming to Greater Manchester this weekend, and will be stopping off at the Trafford Centre for one day only.
The much-loved festive symbol will be arriving outside the shopping centre tomorrow (Saturday 2 December) from midday right through until 8pm to provide “the ultimate Christmas celebration”, with a whole host of activities planned for families of all ages.
The 2023 Coca-Cola Christmas Truck journey will be packed with “interactive experiences for visitors to immerse themselves in”.
Anyone who heads to the Trafford Centre from midday tomorrow will first be welcomed by a walk-in, snow-filled bauble that invites them to “step into a winter wonderland for the perfect holiday snapshot”, all before making a stop at the ‘Ho-Ho-Hoop Hut’ to take part in a fun festive game for the chance to win a selection of prizes – including meal-inspired rewards, and recycled Christmas tree decorations.
Families can then finish off the tour by posing for a memorable photo opportunity in front of the iconic Coca-Cola truck.
Visitors are welcome to listen to the Coca-Cola Christmas choir as they perform a set of carols too.
Fancy it then? If you’re ready to kick-start Christmas the right way, then make sure you get yourself down to the Trafford Centre from midday tomorrow.
Featured Image – Supplied
Tesco has slashed the price of one-litre bottles of Baileys by more than 50%
Tesco has slashed the price of one-litre bottles of Baileys by more than 50%, and they’re now available to get your hands on for a limited time only.
With December officially here, and the festive season nearing closer by the day, most UK supermarkets are rolling out deals left, right, and centre to help shoppers save a few pennies during ‘the most wonderful time of the year’ as the cost of living crisis continues – and it seems like Tesco is absolutely no different.
That’s because the retailer has decided to knock a whopping £12 off the regular price of one-litre bottles of one of the best-loved Christmas tipples.
Fans of the classic Irish cream liqueur drink will probably want to run not walk to their nearest Tesco to stock up on Baileys ready for the big day to arrive, as big bottles of the festive favourite have been reduced from £22 right down to just £10, and are now available to fill your basket with.
But… there’s a bit of a catch (isn’t there always?)
Not only is the over half-price offer only available for a very limited time, and due to expire at the end of next week, but shoppers will only be able to buy the one-litre bottles at the impressive £10 price if they’re Tesco Clubcard customers.
You were probably expecting that’d be the case, right? The supermarket – which is well-known for the savings it offers via is loyalty card scheme all year round – is giving Clubcard users up until Monday 11 December to nip to their nearest branch or head online to the Tesco website and buy as many bottles of Bailey’s as they fancy.
As part of the supermarket’s commitment to “keep prices low” until the end of the year, stuffing, roast potatoes, cranberry sauce, and even tin foil have all seen their prices slashed as the retailer aims to help those struggling to cover costs.