We will soon be able to hand over £100 at the tap of a card: but what will that mean for fraud victims and the vulnerable?
It is about to get a lot easier to spend your money. The chancellor, Rishi Sunak, announced last week that consumers will soon be able to spend up to £100 by tapping their payment cards in shops instead of putting in their pin.
The rise in the contactless payment ceiling to £45 last year was aimed at reducing physical contact in shops during the pandemic, making it easier to shop without using cash. The Treasury said moving it up to £100 would give a “huge boost to the struggling retail sector, helping to support jobs and businesses”.
