Increasing the contactless payment spending limit could fuel a rise in thefts and fraud, consumer and banking figures have warned.
The amount that can be spent on “tap and go” contactless cards is more than doubling from £45 to £100.
Eight out of 10 UK adults used contactless payments in 2019, and the rise on limits will mean millions of payments will now be made simpler, the Government said.
Although the decision may be welcome news for shoppers, some have warned that the increase in funds available to spend without typing in a pin could be seized on by criminals.
Gareth Shaw, head of money at consumer research and advice body Which?, said: “The risk of falling victim to contactless card fraud is currently low, but there is potential for thefts to rise if criminals take advantage of the increased spending limit to maximise the amount they can steal.”
Contactless payment increase to £100 could fuel rise in thefts and fraud, experts warn
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Increasing the contactless payment spending limit could fuel a rise in thefts and fraud, consumer and banking figures have warned.
The amount that can be spent on “tap and go” contactless cards is more than doubling from £45 to £100.
Eight out of 10 UK adults used contactless payments in 2019, and the rise on limits will mean millions of payments will now be made simpler, the Government said.
Although the decision may be welcome news for shoppers, some have warned that the increase in funds available to spend without typing in a pin could be seized on by criminals.
Gareth Shaw, head of money at consumer research and advice body Which?, said: “The risk of falling victim to contactless card fraud is currently low, but there is potential for thefts to rise if criminals take advantage of the increased spending limit to maximise the amount they can steal.”
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