A major change could be coming to contactless payments as proposals to lift the £100 limit have been set out by the City regulator. Under the changes, card providers would be able to set their own contactless limit.

The Financial Conduct Authority (FCA) said it wants to give firms the flexibility to decide the right limit for them and their customers. This could mean people having more convenience to “tap and go” when making bigger payments.

But feedback to the regulator indicated limited demand from some consumers and firms to see limits increased, with fraud concerns also raised.

Banking and finance industry body UK Finance said that it does not expect to see immediate changes to the £100 limits for consumers, although it said firms may consider changes to “background limits” su

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