A customer at a the ticket barrier at Canary Wharf underground station in London. The increase in the limit is intended to boost the struggling retail sector and make it easier for Brits to part with their cash for goods in-person. […] READ MORE: Coronavirus marks the real beginning of the end of cash In the UK, the proportion of debit card payments using contactless has risen since the onset of coronavirus, from four out 10 in 2019 to six out of 10 in September 2020. […] Sunak also used his statement to point out that since Britain has left the European Union (EU), the UK is “no longer bound” by the previous cap of £45 for contactless payments. […] While this may seem more efficient for now and in the longer-term, analysts have warned of some issues that may arise in a cashless society.
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