Overview
- From 19 March 2026, banks and card providers with strong fraud controls may set their own single-transaction caps and adjust cumulative tap rules.
- Providers that alter limits must inform customers, and the regulator is urging options to set personal caps or switch contactless off, which many banks already offer.
- Existing rules requiring reimbursement for unauthorised fraud, such as in lost or stolen card cases, remain in force.
- The FCA says industry feedback suggests most firms will keep the £100 ceiling at first, with some providers indicating no immediate plans to change.
- Coverage notes security concerns, including a reported FCA estimate of up to £31.3m a year in additional contactless fraud if limits rise, even as the move aligns cards with unlimited biometric wallet payments.