💨 Abstract

The UK may remove the £100 cap on contactless payments, following a consultation by the Financial Conduct Authority (FCA). This change, supported by the Treasury, aims to modernize the payment system and increase convenience for shoppers. While retailers welcome the potential reduction in checkout queues, concerns about fraud and security are raised. Consumer protections will remain, and a decision is expected later this year. The £100 limit is still in effect for now.

Courtesy: www.thesun.co.uk