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UK may raise contactless payment limit from £100, with consultation ending Oct 15.
The UK's Financial Conduct Authority is considering allowing major retailers and banks to set their own contactless payment limits, potentially removing the current £100 single-transaction cap.
This change aims to improve convenience for shoppers and encourage innovation, supported by advances in fraud prevention.
While the proposal could enable larger tap-and-go payments, concerns about fraud remain, and firms would still be responsible for reimbursing customers in case of unauthorized transactions.
The consultation on the proposal ends October 15, with no immediate changes expected.
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Reino Unido puede aumentar el límite de pagos sin contacto de £100, con una consulta que finaliza el 15 de octubre.