The Financial Conduct Authority announced plans to scrap the £100 cap on contactless card payments
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The Financial Conduct Authority announced plans to scrap the £100 cap on contactless card payments
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Contactless card payments could soon become unlimited as the UK’s financial service regulator looks to allow banks and other providers to scrap the £100 cap.
Plans from the Financial Conduct Authority (FCA) could mean entering a PIN becomes increasingly rare, with shoppers able to buy…
Card providers would be allowed to set their own contactless card payment limit, under the regulator's plans.
Stock market news and latest business and finance updates from Wednesday
These regulatory changes are scheduled to commence on March 19, though individual firms will decide when to adopt the flexibility
Banking lobby group says lenders are holding off changes as there is no widespread consumer demand for now
The vast majority of card transactions across the UK are made on Visa or Mastercard networks
