£100 contactless payment limit is scrapped today – how will it affect you?

Most of Britain’s banks will keep the £100 limit (Picture: Getty)

Beginning today, banks and payment providers with fraud controls can set their own higher contactless card payment limits.

Britain’s major banks have said they will keep the £100 card limit for now, with many also allowing customers to set their own limits for lower amounts.

This means that they will have the flexibility to make changes in future if they want to.

The contactless card limit has been raised several times over the years...