UK banks keep £100 limit for contactless card payments despite FCA scrapping it

Banking lobby group says lenders are holding off changes as there is no widespread consumer demand for nowExplainer: What will happen when the £100 limit is scrapped?Shoppers will not be able to splash unlimited amounts on contactless cards despite the lifting of a £100 cap on payments as Britain’s banks held off on making changes.The official limit on individual contactless transactions on credit and debit cards has been scrapped but the UK’s biggest high street and challenger banks have kept the £100 ceiling in place. Continue reading...