UK’S NEW GBP100 CONTACTLESS CARD LIMIT COULD BOOST FRAUD, EXPERTS WARN
March 1st, 2021
The United Kingdom’s hike in its ‘tap and go’ contactless card payment limit from GBP45 (USD62.78) to GBP100 (USD139.52) announced March 3 could lead to an increase in fraud when banks implement it in a few months, experts are warning. Jeremy Light, independent payments consultant at Finextra, commented in a blog: “The contactless limit is in place to address fraud, so raising the limit must address the impact on fraud and prevent any increase.” Andy Renshaw, from fraud risk consultants Feedzai, said the move would increase from GBP130 (USD181.38) to ...
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