© Reuters. FILE PHOTO: The logo of the new Financial Conduct Authority is seen at the agency’s headquarters in the Canary Wharf business district of London
LONDON (Reuters) – Britain’s Financial Conduct Authority said on Wednesday it will consult on raising the limit on contactless payments from 45 pounds to 100 pounds ($62-$137) following a rise in such payments since the pandemic unfolded.
“Since the limit for contactless card payments was raised to 45 pounds last April at the start of the pandemic, people are increasingly making use of contactless payments,” the watchdog said in a statement.
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