In reply to ShamusR.

Very good point. But if you look as why the NFC limit was originally set to 20 pounds (instead of being left open without limits) and you will find out quickly that this is done due to the lack of the cardholder authentication in NFC transactions
Now lets look at Apple Pay, not only you have the chip data that you need to conduct the transaction but it is also enhanced with a tokenized PAN. Adding the TouchID to the mix and one would have to start asking the important question, do we have enough authentication to merit removing the 20 pounds limit and the obvious answer is a yes.
It is almost guaranteed that the TouchID will be recognized as a supported cardholder verification method that would have the same level of assurance as the PIN (in the chip and PIN world).
It is important to note that Apple Pay is using the same chip that is embedded in the EMV cards and with the strong authentication they provide, one has to ask when will the payment networks change the rules and remove this old limit.
My guess is that it is just a matter of time and time will tell.