Major change to be made to contactless card payments within weeks

What you need to know as contactless card payment limit to be removed on March 19

Cap Removal: From March 19, the current £100 contactless payment limit will be abolished, allowing individual banks to set their own spending thresholds.
Consumer Control: Customers will have the power to set their own personal contactless limits or disable the feature entirely through their banking apps.
Security Protocols: To prevent fraud, a PIN is still required for single transactions over £100 or when cumulative daily spending exceeds £300.
Historical Growth: Since its 2007 debut at just £10, the contactless limit has been raised six times, reaching its most recent milestone of £100 in 2021.
FCA Mandate: The Financial Conduct Authority (FCA) decided to axe the limit following a public consultation, citing improved fraud prevention systems.
Widespread Adoption: Recent data shows that 85% of people in the UK now use contactless payments monthly, making it the nation’s preferred payment method.
Economic Benefits: Industry leaders from UKHospitality note that higher limits will streamline the customer experience and support high street businesses.
Measured Implementation: While the cap is being removed, UK Finance suggests banks will likely maintain the £100 limit in the short term to ensure continued security.