Individuals should be in control of their contactless payments
3 March 2021
SUGGESTED
In the Media
Annabel Denham writes for The Telegraph
2 March 2021
In the Media
Mark Littlewood writes for The Telegraph
3 March 2021
Labour Market
Emma Revell writes for The Telegraph
Emma Revell, IEA Head of Public Affairs, has written an op-ed for The Telegraph arguing that the individual, not the state or banks, should be in control of their personal finances when it comes to contactless payments.
In the Spring Budget, Rishi Sunak announcement that the limit for contactless payments will rise from £45 to £100. Emma Revell argued that although advocates may be right that contactless payment is safer than cash, contactless cards can be spent once stolen and “people should still be offered the opportunity to opt out of the risk should they wish to do so”.
Ultimately, the consumer should be able to decide whether they want to take the risk of a higher contactless payment allowance, “Banks should be encouraged to offer lower limits or no contactless cards if account holders prefer it so that everyone is able to protect their money”.
Read the full article here.
In the Spring Budget, Rishi Sunak announcement that the limit for contactless payments will rise from £45 to £100. Emma Revell argued that although advocates may be right that contactless payment is safer than cash, contactless cards can be spent once stolen and “people should still be offered the opportunity to opt out of the risk should they wish to do so”.
Ultimately, the consumer should be able to decide whether they want to take the risk of a higher contactless payment allowance, “Banks should be encouraged to offer lower limits or no contactless cards if account holders prefer it so that everyone is able to protect their money”.
Read the full article here.
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