Regulatory AlertsPS21/2: Amendments to single and cumulative transaction thresholds for contactless payments
The Financial Conduct Authority amends the Strong Customer Authentication Regulatory Technical Standards to increase the single contactless payment threshold from £45 to £100 and the cumulative threshold from £130 to £300. These changes replace temporary supervisory flexibility introduced during the pandemic and aim to align regulatory limits with evolving consumer behavior and merchant expectations while maintaining security. Payment service providers must ensure adequate fraud monitoring systems are in place to mitigate risks associated with the higher transaction limits.
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