| Comment | The protection is two fold for single factor contactless.
1. A per transaction limit of £x based on the risk level a bank is willing to accept.
2. A reauthenticate limit of £y which is how often a user is expected to reinsert and pin their card to be able to make a payment.
Phone backed payments (and Watches etc) have none of these limits in some places because they know who you are; this is called a multi factor contactless payment (factor one is a thing you have, factor two is a thing you are). |
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