Tesco, Aldi, Sainsbury's Morrisons and Asda could see the existing contactless payment limit scrapped. Contactless card payments could go above £100 and potentially become unlimited under proposals to allow banks and other providers to set their own limits for customers.

The Financial Conduct Authority (FCA) said on Wednesday that the proposal to scrap the current limit would provide shoppers with more convenience and card providers “the flexibility to decide the right limit for them and customers”.

“We’re seeing smarter payment technology and more well-established fraud controls, so it’s the right time to let firms tailor contactless payments to fit their customers’ needs and drive innovation,” said David Geale, the executive director of payments and digital finance at the FCA.

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