Contactless payment limit: raising it to £100 could push more people into debt
- Written by Gavin Brown, Associate Professor in Financial Technology, University of Liverpool
Rido/ShutterstockIn recognition of our changing spending behaviour during the pandemic, the UK’s Financial Conduct Authority (FCA) has announced plans to consult on increasing the contactless spending limit from £45 to £100. Prior to the COVID-19 outbreak, this same limit was just £30. And while the FCA limit is advisory,...