Understanding the Implications of the FCA’s New Regulation on Contactless Payments
Highlights:
- The FCA is set to abolish the £100 limit on contactless payment transactions.
- This change aims to support the growing trend towards cashless payments in the UK.
- Consumers and businesses are expected to benefit from increased ease of transactions and security.
The Financial Conduct Authority (FCA) has announced its intention to remove the £100 limit on contactless payments in the UK, a significant shift in payment regulations aimed at facilitating the growing reliance on cashless transactions. The removal of this limit will likely streamline payments for consumers and businesses alike, enhancing transaction efficiency and security. As the UK moves further towards a cashless society, this regulation change is poised to impact the way people conduct everyday transactions significantly.
