Published: December 19, 2025 at 2:32 pm
The £100 limit for contactless payments is to be removed, with banks and payment providers to be allowed to set their own limits from March 2026.
The Financial Conduct Authority says that they must demonstrate strong fraud controls to do so.
The move will allow them to better respond to changing consumer demands, inflation and new technology, the FCA said.
They are also being encouraged to let customers set their own limit, or turn contactless off altogether, as many high street banks already do.
Existing consumer protections remain in place, while consumers must be reimbursed in unauthorised fraud cases, such as if their card is lost or stolen.