Upgrades begin across UK retailers and vending machines to raise the contactless card payment limit to £20 from £15.

According to StockMarketWire.com, there are approximately 23 million contactless cards in the UK, giving customers a quick and easy alternative to using cash. Customers simply pay by holding their card up to a reader for transactions rather than tapping in their PIN.

Contactless payments are accepted at more than 55 national retailers, including McDonalds, Boots, Greggs, Little Chef, Paypoint, Spar and Wilkinsons; and at vending machines, festivals and other events.

This marks the second time the contactless transaction limit has been increased, having first been raised from £10 to £15 in 2010.

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