I have recently checked if I am able to change my contactless without pin limit and realized that this is not an option. So I quickly checked for other countries and it seems to be set by national bank regulation (or law, not really clear). Examples I could find about are Poland (100 PLN) and UK(£30)
Currently, individual contactless card transactions are limited to £30 but research commissioned by GoCompare Money, found that many users want the figure to rise to enable them to pay for a wider range of goods and services.
I will narrow down my question to UK because there the topic seems to be covered by more articles (or at least the search engine provided more for UK).
I am wondering how this limit is regulated? Is this by law or by national bank regulation? Why not allow the bank or even the final customer to set the limit?
Question: Why do contactless payments without pin code seem to be regulated at national level rather than at bank / customer level?