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Contactless card payments could become unlimited
- Regulators are seeking input through a consultation open until 15 October 2025 on plans to permit banks in the UK to establish or remove limits on contactless card payments.
- The proposals respond to the Prime Minister's request to remove barriers to economic growth and reflect evolving payment technology and rising prices.
- Currently, payments over £100 are declined, but the FCA plans to allow higher-value tap-and-go payments for low-risk transactions while firms remain liable for fraud losses.
- Though 78% of surveyed consumers want to keep the £100 limit, contactless fraud rates are low at 1.3p per £100 spent, and customers are refunded in over 98% of fraud cases.
- If approved, changes could increase convenience by reducing PIN use and matching smartphone wallet practices, but fraud risk may rise and most providers are unlikely to change limits soon.
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39 Articles
39 Articles
Evening Standard+2 Reposted by 2 other sources
Firms could be given freedom to set their own contactless card limits
The contactless card limit has been raised in steps over the years, currently standing at £100.
·London, United Kingdom
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Coverage Details
Total News Sources39
Leaning Left4Leaning Right1Center19Last UpdatedBias Distribution79% Center
Bias Distribution
- 79% of the sources are Center
79% Center
L 17%
C 79%
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