4 February - James Luck

New potential contactless limits will have increased cumulative totals too.

A good number of people have asked me. “how many times can a consumer use their contactless card before they need to verify with a PIN number.” This is very relevant for unattended contactless. While the consumer's banks ultimately can seek to verify depending on the clients account records, the current cumulative total is £130. But with the potential increase being  looked at by FCA from current £45 going to £100 that means the cumulative total will also increase to £200.
That makes using your card for multi small transactions much more handy for night outs - (when we eventually can have them again)
The FCA confirms : “The coronavirus (Covid-19) pandemic has accelerated these changes. This consultation will help us make sure regulatory expectations keep pace with the changing landscape”
Expectation is, a decision will be reached by 30th April 2021. 


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Kashing Limited is registered with the Financial Conduct Authority as a Small Payment Institution. Our Financial Services Register number is 630463.