The UK Financial Conduct Authority (FCA) has published a paper seeking views on removing the £100 contactless limit.
The FCA is looking at whether removing or increasing the contactless limit could benefit consumers, merchants and economic growth in the UK.
Making regulation less prescriptive would also give firms greater control and could promote innovative payment methods or fraud prevention solutions.
This forms part of the work, announced in January in a letter to the Prime Minister to support growth.
One option put forward is to allow firms, who use technology to reinforce strong fraud controls, to set their own limits as happens in the United States.
Any changes would need to support good customer outcomes as required by the Consumer Duty.
David Geale, executive…
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