On this week’s episode of News & Views, sponsored by Vanta, The Fintech Times Podcast team speak about the Financial Conduct Authority reviewing whether the £100 contactless limit should be removed or increased, why many Brits claim they would rather remove fraud prevention checks to complete a transaction faster and FinTech Australia’s call for government intervention to avoid a ‘two-speed’ fintech ecosystem.
The conversation started with Tom spotlighting the potential change taking place in the UK’s payment industry as the government ways up whether the contactless card limit should be increased. While Polly and Francis saw some merit to a limit rise, they both agreed the fraud risks outweighed the possible benefits.
Following this, the conversation turned to Francis, who also spoke about the topic of fraud and UK consumers’ attitudes towards fraud prevention measures slowing down the checkout experience. Together, the trio members of the podcast team explored a bank’s duty in preventing fraud, even if a customer does want that measure in place.
Lastly, Polly brought FinTech Australia’s latest call for government intervention to the table. The podcast team reflected on some of the organisations that started in Australia and how the next big thing may be in the works. However, without government intervention, they might not get the funds they need to kickstart their business.
Listen to the News & Views Podcast on your favourite platform:
Scrapping the £100 Contactless Limit: What It Means for Consumers, Merchants and Security
payabl. Finds UK Shows No Sympathy for Long Checkouts and Willing to Abandon Fraud Checks for Speed
FinTech Australia Calls for Government Intervention to Avoid a ‘Two-Speed’ Fintech Ecosystem
