UK banks keep £100 limit for contactless card payments despite FCA scrapping it

The decision by UK banks to retain the £100 limit on contactless payments, despite regulatory changes, highlights a cautious approach to consumer behavior and risk management. This reluctance to adapt may reflect banks' concerns about potential fraud or consumer spending habits, suggesting that financial institutions are prioritizing security over convenience. As consumer demand evolves, banks may eventually need to reconsider their stance to remain competitive.