Buyers will be able to spend up to £ 100 on their contactless card payments, as the change is expected to occur in months.
According to experts, the new change is expected to take effect from October 15, just before the Christmas rush.
At the start of last year the contactless limit was extended from £ 35 to £ 45, but after the coronavirus hit the world the contactless change was announced.
READ MOREITV Coronation Street star Alexandra Mardell has famous actor fiancé
David Postings, Managing Director of UK Finance, said: “Contactless payment has proven to be very popular with consumers and an increasing number of transactions are carried out using contactless technology.
“Raising the limit to £ 100 will allow people to pay for higher value transactions like their weekly store or refueling their cars.”
According to the Sun, UK Finance has warned it could take “some time” for the new £ 100 limit to roll out to all retailers.
Alternatives like Apple Pay or Google Pay have no limit and are allowed by biometric technologies, such as fingerprints or facial recognition.
In February, the Financial Conduct Authority revealed that an increase was underway.
The regulator said: ‘Since the limit on contactless card payments was raised to £ 45 last April at the start of the pandemic, people are increasingly using contactless payments.
“It is important that payment regulations adapt to the expectations of consumers and merchants.
Stores have encouraged customers to pay with a contactless card throughout the pandemic.
Contactless payments also mean shoppers avoid having to touch the card reader and minimize waiting time to help with social distancing.
The West Midlands are opening up – get the latest information on pubs, restaurants and attractions in our What’s On newsletter.