Global Security Mag: The high street surge: banks and retailers must secure the expected influx of contactless payments
The UK Government has responded to coronavirus-conscious spending habits by further increasing the regulatory limit on contactless card payments from £45 to £100 and the multiple transaction limit from £130 to £300. While supporting end user convenience and providing a much-needed boost to a struggling high street this has, in effect, removed a vital personal verification step for billions of everyday transactions. The move risks putting speed and convenience ahead of security and means that bigger ticket items such as petrol or the weekly grocery shop, will now come under the range of instant payments.
