UK contactless card limit of £100 to be scrapped from 19 March

Under changes revealed by regulator, banks and card providers encouraged to set their own maximumsThe £100 limit on contactless card payments will be scrapped next year and consumers could get the ability to spend as much as they want without inputting their pin under changes announced by the UK financial regulator.Currently contactless payments by cards are limited, while payments using mobile phones are not, but the Financial Conduct Authority (FCA) said that from 19 March banks and card providers could set their own maximums. Continue reading...