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Scrapping the £100 Contactless Limit: What It Means for Consumers, Merchants and Security

The Fintech Times

The Financial Conduct Authority (FCA) is reviewing whether the 100 contactless limit should be removed or increased, aiming to give consumers and businesses more flexibility while keeping fraud protections in place. The consultation is part of wider efforts to encourage innovation in payments and support economic growth.

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How are Interchange Fees Calculated?

Stax

To improve the payment experience for consumers, card networks must innovate and incorporate the latest technologies. Think AI-powered anti-fraud measures and contactless payments such advancements are funded by interchange fees. Debit card interchange fees are lower than that of credit cards.

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What is NFC Mobile Payment and How to Use It?

Payment Savvy

By only tapping your debit/credit card onto the card terminal, you can accept payments quickly and conveniently. NFC chips which make wireless communication possible, are used in contactless cards, mobile devices, checkout terminals, and other payment devices. How to Accept NFC Mobile Payments?

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The Anatomy of a Credit Card Transaction

Clearly Payments

Credit Card Use Overview in USA and Canada In the U.S., credit card payments surpassed $10.6 Contactless payments continue their rapid adoption, projected to account for more than 60% of in-store purchases. Merchant Sells goods/services and accepts credit card payments. Visa, Mastercard).

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What Is Debit Card Processing & How Does It Work?

Payment Savvy

Types of Debit Card Processing & Technologies Card-Present Transactions PIN-based Debit Cards : a debit card transaction where the customer enters a PIN for verification. Signature-based Debit Cards : Transactions verified by the customer’s signature.

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Mastercard’s Biometric Payment Card: the Good, the Bad, and the Ugly

Fintech Labs Insights

Payments giant Mastercard announced today it is undergoing trials for a new payment card. A first in the industry, the company has embedded a fingerprint scanner inside a Chip and PIN payment card– think of it as Apple Pay for your bank card.

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Visa launches ‘Tap to Add Card’ in Ukraine, Georgia and South Africa

NFCW

Visa has launched its ‘Tap to Add Card’ service in Ukraine, Georgia and South Africa, enabling cardholders to add their bank card to their mobile wallet via NFC by simply tapping their card to their NFC mobile phone.