£100 contactless card limit to be lifted

The UK's £100 contactless card limit is set to be lifted from March, allowing banks and card providers to offer unlimited or customizable payment limits without entering a PIN. The Financial Conduct Authority (FCA) suggests cardholders should be able to determine their own limits or turn off contactless payments. Despite some concerns about fraud, security measures like thumbprints and face ID on smartphones provide added protection for high-value transactions. Contactless card payments have gradually increased in limit since their introduction in 2007, with other countries like Canada, Australia, and New Zealand allowing industry-set limits.