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Contactless card payments are set to be overhauled in 2026 under plans being drawn up by the Financial Conduct Authority (FCA) with the £100 limit set to be lifted for millions.
Earlier this week, the financial services regulator confirmed that bank customers will now be able to set their own contactless card limit, raising the current £100 threshold, or set now limit at all.
However, concerns have been raised this could lead to an increase in scams with fraudsters now being able to steal more hard-earned cash with just a tap of a stolen card.
Contactless has become the norm | PA
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