Contactless Payments

[Alikado]

In the papers today, it is going to be announced in the Budget Statement that the Contactless Payment limit is to be increased to £100, this will lead to increased fraud and less compensation being paid by the Banks as the system puts the onus on the retailer to pay for fraudulent payments. Many Pubs, Restaurants & Takeaways already don't use Contactless because of this, I think many more retailers will go down this route when they have been stung a few times.

[gsgsgs]

In the papers today, it is going to be announced in the Budget Statement that the Contactless Payment limit is to be increased to £100, this will lead to increased fraud and less compensation being paid by the Banks as the system puts the onus on the retailer to pay for fraudulent payments. Many Pubs, Restaurants & Takeaways already don't use Contactless because of this, I think many more retailers will go down this route when they have been stung a few times.

Contactless is easy and convenient but £100 is too much, the current £45 is sufficient. If you lose your card how many £100 transactions will be allowed before the system gets suspicious?

[donkey22]

In the papers today, it is going to be announced in the Budget Statement that the Contactless Payment limit is to be increased to £100, this will lead to increased fraud and less compensation being paid by the Banks as the system puts the onus on the retailer to pay for fraudulent payments. Many Pubs, Restaurants & Takeaways already don't use Contactless because of this, I think many more retailers will go down this route when they have been stung a few times.

If you have reservations about this IMO the ultimate compromise is an nfc enabled mobile phone with Google pay or apple pay.

Biometric / patten / pin protection with all the contactless benefits. You can store multiple cards too.

I've not carried a wallet or card for years unless I know I'm spending big. I've yet to have a payment failure on my phone.

[Alikado]

If you have reservations about this IMO the ultimate compromise is an nfc enabled mobile phone with Google pay or apple pay.

Biometric / patten / pin protection with all the contactless benefits. You can store multiple cards too.

I've not carried a wallet or card for years unless I know I'm spending big. I've yet to have a payment failure on my phone.

That is only part of the issue, the part you've missed is the retailer angle, they pick up the tab for fraudulent transactions. It will also make payment cards a bigger more lucrative target for thieves who can buy an article approaching £100 for selling on, this was not such as an attractive option with the old £30 limit.

[Blackrock]

If you have reservations about this IMO the ultimate compromise is an nfc enabled mobile phone with Google pay or apple pay.

Biometric / patten / pin protection with all the contactless benefits. You can store multiple cards too.

I've not carried a wallet or card for years unless I know I'm spending big. I've yet to have a payment failure on my phone.

Fine for you if thats what you want. However, I don't possess a smart phone and have no wish to buy one. I carry a mobile phone for emergency use only and don't have social media accounts etc. I value my privacy and if that means being labelled a dinosaur, so be it.

[donkey22]

Fine for you if thats what you want. However, I don't possess a smart phone and have no wish to buy one. I carry a mobile phone for emergency use only and don't have social media accounts etc. I value my privacy and if that means being labelled a dinosaur, so be it.

Dam new fangled things eh? That’s fair enough if you’re afraid of new technology. I prefer to use Apple Pay because it’s far safer and convenient than using cash or cards.

[donkey22]

That is only part of the issue, the part you've missed is the retailer angle, they pick up the tab for fraudulent transactions. It will also make payment cards a bigger more lucrative target for thieves who can buy an article approaching £100 for selling on, this was not such as an attractive option with the old £30 limit.

Maybe so, but as a consumer, I’m not concerned about losses incurred by retailers. That’s a matter between the bank and retailers. Apple/Google Pay are far safer ways than carrying cash or cards which is why these newer ways to pay will gradually become the norm. If a retailer were to demand ‘cash only’, I’d take my custom elsewhere.
Nine out of 10 UK card payments in 2020 were contactless. Contactless cards payments accounted for around 90% of card payments in the UK in 2020

[Alikado]

Maybe so, but as a consumer, I’m not concerned about losses incurred by retailers. That’s a matter between the bank and retailers. Apple/Google Pay are far safer ways than carrying cash or cards which is why these newer ways to pay will gradually become the norm. If a retailer were to demand ‘cash only’, I’d take my custom elsewhere.
Nine out of 10 UK card payments in 2020 were contactless. Contactless cards payments accounted for around 90% of card payments in the UK in 2020

We all need to be concerned about the losses incurred by the retailer because ultimately we will pay. Retailers will increasingly stop taking cashless payments which will inconvenience us all, some already have stopped.

[donkey22]

We all need to be concerned about the losses incurred by the retailer because ultimately we will pay. Retailers will increasingly stop taking cashless payments which will inconvenience us all, some already have stopped.

Can you name any of these retailers?
All the evidence I’ve seen suggests that the use of cashless payments vs cash payments is on a steep incline. ‘Cash use is falling, with predictions that fewer than one in 10 transactions will be completed with notes and coins in 10 years' time.’ https://www.bbc.co.uk/news/business-48544695

[Alikado]

Can you name any of these retailers?
All the evidence I’ve seen suggests that the use of cashless payments vs cash payments is on a steep incline. ‘Cash use is falling, with predictions that fewer than one in 10 transactions will be completed with notes and coins in 10 years' time.’ https://www.bbc.co.uk/news/business-48544695

The company that runs the Cat & Fiddle in Bootle and other pubs doesn't for one, they will take a card with a pin number but not without one.

[donkey22]

The company that runs the Cat & Fiddle in Bootle and other pubs doesn't for one, they will take a card with a pin number but not without one.

I hardly think the Cat and Fiddle in Bootle is going to have the banking industry quivering in fear because they’re refusing to accept contactless. Even the small local in the village I live in accepts contactless. In fact I’ve never had such a payment refused in any restaurant or pub I’ve visited.

[gsgsgs]

I won't use a business that refuses to accept card/contactless payments, TBH I couldn't use them as I don't carry cash.

I've used contactless since the beginning, initially by card then my phone, with a card if you lose it you could have several payments made before you realise you've lost it.

With a phone you have additional security, you can't set up contactless payments on a rooted phone nor can you set it up without a screen lock, if you lose your phone then it can't be used without knowing the unlock criteria, also some business allow transactions above £45 on Google Pay/Apple Pay. Additionally if I do lose my phone, I can erase it from any PC or phone.

If you lose your purse/wallet with cash, it's gone! sadly these days highly unlikely it would be handed in, or am I being cynical?

[Alikado]

I hardly think the Cat and Fiddle in Bootle is going to have the banking industry quivering in fear because they’re refusing to accept contactless. Even the small local in the village I live in accepts contactless. In fact I’ve never had such a payment refused in any restaurant or pub I’ve visited.

You asked for a business that won't accept contactless - I gave you one.

[*concerned*]

Can you name any of these retailers?
All the evidence I’ve seen suggests that the use of cashless payments vs cash payments is on a steep incline. ‘Cash use is falling, with predictions that fewer than one in 10 transactions will be completed with notes and coins in 10 years' time.’ https://www.bbc.co.uk/news/business-48544695

Lots of takeaways (chip shops, pizza places etc are cash only

[Toodles McGinty]

I just don't see the point of it.

OK, with the pandemic I guess raising the payment to £45 for the purposes of hygiene made some sense, when everyone was concerned about touching keypads. But everyone is educated about hand gel, hand washing etc. now. Most shops have gel available. Most shops wipe their POS areas.

Even if you can get your money back, it's a giant PITA and stressful. And an absolute boon for thieves and fraudsters. Who doesn't have the time or inclination to key in 4 digits for sales over £30 / £45?

It strikes me it's just to say 'we couldn't do this when we were in the EU', like the freeport bull. Unnecessary and unwise.