PARLIAMENTARY WRITTEN QUESTION
Contactless Payments: Fraud (26 February 2021)
Question Asked
To ask the Chancellor of the Exchequer, what assessment his Department has made of the risk of fraud in respect of raising the limit for contactless spending to £100; and if he will make a statement.
Asked by:
Pat McFadden (Labour)
Asked by:
Pat McFadden (Labour)
Answer
The Government’s EU exit deal allows the Financial Conduct Authority (FCA) to change the legal contactless limits, which were previously set by the European Commission. On 3 March, the FCA increased the legal single contactless payment limit from £45 to £100.
The FCA undertook a public consultation ahead of taking its decision and has carefully considered the potential impacts on fraud from these changes. When the contactless payment limits were last raised in Spring 2020 from £30 to £45 there was no significant recorded increase in fraud levels.
Answered by:
John Glen (Conservative)
5 March 2021
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