By Hannah Ahmed

Copyright birminghammail

Millions have been alerted over a card change which could change the way they shop forever. The Financial Conduct Authority (FCA) has shared it is considering whether scrapping the contactless card limit for UK shoppers could be beneficial in the future. This move would mean the traditional four-digit pin code used when paying by card could become even less widely used, as contactless payment begins to take over. The initiative was first launched in the UK back in 2007 by Barclays, who originally set a £10 limit on the contactless card scheme. READ MORE: NatWest to close four more branches this week – see the full list Fast forward nearly 15 years to 2021, contactless had taken over the country, with the tap-and-spend limit rising to £100. If the FCA’s plans are confirmed, this could mean any figure could be paid for by simply tapping your debit or credit card on the card machine by as early as next year. Smartphone wallets already permits users who wish to spend more than £100 to spend using a phone. The proposal has been met with a mixed response as 78 per cent of customers who responded to a survey said they did not want the current rules to change. The FCA told the BBC it did not expect a quick change to the regulations, but expected providers to welcome the flexibility of the scene as prices increase further and technology continues to evolve. As well as potentially scrapping the limit, the officials claimed this option could also give customers the option to set their own card limit. Many who are against the change may be worried about fraud and theft fears, as various protections have already been put in place. READ MORE: H MRC urges Brits to claim with them directly to keep ‘100%’ of their cash As well as the £100 cap, banking customers are also often asked to enter their pin if contactless totals reach more than £300 or five contactless payments are carried out. While the analysis by the FCA revealed raising the limits could increase fraud losses, the group confessed detection services were continuing to heighten. David Geale, from the FCA, said if money was stolen by fraudsters, it would be received back by the client. He said: “People are still protected. Even with contactless, firms will refund your money if your card is used fraudulently.”