{"id":370476,"date":"2025-12-26T17:56:22","date_gmt":"2025-12-26T17:56:22","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/370476\/"},"modified":"2025-12-26T17:56:22","modified_gmt":"2025-12-26T17:56:22","slug":"uk-to-remove-around-usd134-contactless-payment-cap","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/370476\/","title":{"rendered":"UK to Remove Around USD134 Contactless Payment Cap"},"content":{"rendered":"<p> (<a style=\"color:black\" href=\"https:\/\/menafn.com\" target=\"_blank\" rel=\"nofollow noopener\">MENAFN<\/a>) The United Kingdom\u2019s current \u00a3100 (around $134) ceiling on contactless card transactions will be abolished next year, potentially enabling consumers to spend unlimited amounts without entering their PIN, following a major regulatory shift announced by the Financial Conduct Authority (FCA).<\/p>\n<p>The FCA stated on Friday that beginning March 19, banks and card issuers will be permitted to establish their own maximum limits for contactless purchases.<\/p>\n<p>At present, card-based contactless payments are restricted, whereas mobile phone transactions are not subject to the same cap. Additionally, there is a cumulative threshold of \u00a3300 or five consecutive contactless payments, after which customers must input their PIN.<\/p>\n<p>Under the revised framework, providers will have the option to eliminate this restriction entirely.<\/p>\n<p>The regulator explained that these adjustments are intended to help financial institutions adapt to evolving consumer preferences, inflationary pressures, and technological advancements. It also emphasized that customers should retain the ability to set personal limits or disable contactless payments altogether.<\/p>\n<p>In the immediate future, the FCA expects most institutions to maintain their existing restrictions.<\/p>\n<p>Contactless payments were first introduced in 2007 with a \u00a310 limit, which has steadily increased over time. The threshold was raised to \u00a345 during the COVID-19 pandemic in 2020 and later to \u00a3100 in October 2021. A consultation on the latest modifications was conducted earlier this year.<\/p>\n<p><a style=\"color:black\" href=\"https:\/\/menafn.com\/1110511689\/UK-to-Remove-Around-USD134-Contactless-Payment-Cap\" target=\"_blank\" rel=\"nofollow noopener\"><\/p>\n<p>MENAFN22122025000045017167ID1110511689<\/p>\n<p><\/a><\/p>\n<p>  <\/p>\n<p> Legal Disclaimer:<br \/><a href=\"https:\/\/menafn.com\/\" target=\"_blank\" rel=\"nofollow noopener\">MENAFN<\/a> provides the<br \/>\n              information \u201cas is\u201d without warranty of any kind. We do not accept<br \/>\n              any responsibility or liability for the accuracy, content, images,<br \/>\n              videos, licenses, completeness, legality, or reliability of the information<br \/>\n              contained in this article. If you have any complaints or copyright<br \/>\n              issues related to this article, kindly contact the provider above.<\/p>\n","protected":false},"excerpt":{"rendered":"(MENAFN) The United Kingdom\u2019s current \u00a3100 (around $134) ceiling on contactless card transactions will be abolished next year,&hellip;\n","protected":false},"author":2,"featured_media":370477,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[49,48,190,61],"class_list":["post-370476","post","type-post","status-publish","format-standard","has-post-thumbnail","category-mobile","tag-ca","tag-canada","tag-mobile","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/370476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=370476"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/370476\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/370477"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=370476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=370476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=370476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}