FCA introduces changes from March 2026, to give banks and payment providers with robust fraud controls greater flexibility to set their own contactless payment limits, replacing the current fixed cap

This move responds to strong consumer demand, with contactless payments accounting for about 95 % of eligible in‑store card transactions in 2024, while maintaining existing fraud protections. Firms will be incentivised to strengthen fraud controls, and consumers may also have the option to set personal limits or disable contactless payments entirely, ensuring both convenience and security in line with evolving technology and inflation pressures…