Overview

• Public consultation runs until October 15, after which the FCA will review feedback before deciding on any rule change.
• Banks and card providers could be allowed to set their own tap‑and‑go thresholds above £100 or remove the cap entirely.
• Consumers would retain protections against unauthorised transactions, and firms would need to demonstrate robust fraud detection.
• UK Finance data cites low contactless fraud at about 1.3p per £100 versus 6p per £100 for all unauthorised fraud, which informs the FCA’s risk view.
• No immediate changes are expected, with most firms anticipated to keep £100 for now and retailers likely needing terminal updates if limits rise.