From today (15th October 2021), the contactless spending limit in the UK for a single transaction has now risen from £45 to £100.
The Financial Conduct Authority (FCA) made the decision to increase the limits to help bring more convenience for shoppers, and has been working towards this update for quite some time.
RingPay is all prepped and ready for this change.
Your ring is all ready to go. Although we’ve been ready and waiting for this change for a while now, it may take some time for all retailers to update their terminals in-store to roll this out. Therefore, it’s probably a good idea to check in with the store first to ensure they can actually handle this increased limit.
Obviously this is great news for any RingPay wearer, as you can continue to limit touching payment terminals, reduce any contact points whilst purchasing those essential shopping items and breeze through checkout at lightening speed.
We hope that this update will help bring much more convenience to your daily life; from less hassle at the supermarket tills, through to being able to fill up your car with fuel and pay with a wave of your hand.
The McLEAR products and associated payment accounts are issued by PayrNet Limited (“PayrNet”) pursuant to a license from Visa. McLEAR is a distributor of PayrNet Limited, which is an Electronic Money Institution authorised by the FCA under the Electronic Money Regulations 2011 (EMR’s) with Firm Reference Number 900594.
If you’ve lost your ring or it has been stolen, please open the app on your mobile device and click to pause transactions immediately. This can be reversed if you find your ring.
If you do not have access to the app and are sure your ring is gone for good, please email us to cancel your ring. Please note, this action is non-reversible and will completely disable your ring forever.
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