Overview
- Proposals published on 10 September would allow banks and payment firms to choose their own tap-to-pay limits, with feedback invited until 15 October 2025.
- The FCA says existing protections remain in place, with firms required to refund unauthorised contactless fraud; UK Finance reports about 1.3p fraud per £100 spent.
- Based on industry feedback, the regulator expects most providers to keep the £100 limit for now, with any increases contingent on proven controls and orderly implementation.
- Many issuers already let customers set lower personal limits or switch contactless off, while Apple Pay and Google Pay permit higher-value taps using biometrics or a passcode.
- A domestic abuse charity warns higher limits could help abusers drain victims’ accounts and urges a consistent approach to coerced debt, as UK Finance signals no immediate changes are likely.