The Financial Conduct Authority (FCA) has sent a letter to the government on the steps it is taking and which it could take to support economic growth.
In the letter, Nikhil Rathi, head of the FCA, said that the regulator could "lift the limit of contactless cards of 100 pounds, giving firms and customers more flexibility, based on the experience of the United States, and equalizing their rights with digital wallets."
The UK market is currently one of the most popular among scammers. Over the past 3 years, the British have lost almost 60 million pounds due to card fraud.
Paydex — payment ecosystem for e-commerce businesses of any size
In the letter, Nikhil Rathi, head of the FCA, said that the regulator could "lift the limit of contactless cards of 100 pounds, giving firms and customers more flexibility, based on the experience of the United States, and equalizing their rights with digital wallets."
The UK market is currently one of the most popular among scammers. Over the past 3 years, the British have lost almost 60 million pounds due to card fraud.
Paydex — payment ecosystem for e-commerce businesses of any size