Scrapping contactless payment limit proposed by UK FCA
( September 10, 2025, 08:53 GMT | Official Statement) -- MLex Summary: The UK's Financial Conduct Authority has proposed to scrap the limit on contactless card payments, allowing banks and other payment service providers to process such transactions whenever they're identified as low-risk. Under the proposed approach, payment service providers will be able to set their own contactless limits. The move had been already floated as one of around 50 measures that the FCA outlined in a letter to the Prime Minster in January to support economic growth. “This is an area where overly restrictive regulations are not necessary to deliver good outcomes,” the watchdog said in its consultation paper.Statement follows....
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