NEWS
Barclaycard to enable UK retailers to accept new £45 Contactless Limit
B
arclaycard, which sees nearly half of the nation’s credit and debit card transactions, will be rolling out the
deployment of the new £45 contactless limit across UK retailers from 1 April 2020.
The payments provider, which provides the technology to power over 150,000 terminals across the UK retail sector, is supporting the increased threshold to help prevent the spread of Coronavirus. Adjusting the contactless limit from £30 to £45 will allow more customers to make payments without touching card terminals or handling cash.
Deployment will be prioritised for retailers in key sectors, including grocery & supermarket stores, bakeries, pharmacies and petrol service stations. Barclaycard will be supporting the deployment of the higher contactless limit to other merchants in due course.
Barclaycard has a long history of payments innovation in the UK, launching the UK’s first contactless payments card in 2007 and
leading the roll out of ‘touch and go’ payments across the Transport for London Network.
Rob Cameron, CEO of Barclaycard Payments said: “It’s more important than ever for merchants and their customers to be mindful of their collective health and safety. We are proud to be taking a leadership position in the UK by commencing the deployment of a higher contactless threshold. By supporting the ability of customers to spend up to £45 via contactless, we are playing a part in helping UK consumers to pay safely and securely in these challenging times”.
Cath Kidston on the block
Cath Kidston, which many once viewed as Laura Ashley for a younger market, is in search of a buyer. It has drafted in Alvarez & Marsal to conduct an urgent strategic review and seek a saviour for the business which employs around 800 staff and has 60 UK stores plus a further 140 stores overseas. An administration has not been ruled out.
The business, owned by Baring Private Equity Asia, had historically enjoyed
strong sales in the Far East and also benefited from tourists from the Far East visiting the UK and boosting its store sales here. It has, however, been loss-making for three years which means that its current crisis cannot be wholly attributed to coronavirus.
Operating costs had been reduced via the closure of unprofitable stores as well as a reduction in headcount over the last two years. It is also understood that Cath Kidston
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has re-platformed its website in order to boost online sales.
A spokesperson said: “Cath Kidston has been actively implementing a new business strategy to support the growth of the brand while managing the many pressures in the retail sector. This includes dealing with the outbreak of Covid-19, which has been impacting the business globally since the beginning of the year. We have therefore initiated a process to explore options for the business, to enable the management team to continue implementing their strategy to deliver growth.”
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