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Catch up on some of the stories our payments/gambling compliance analysts have covered lately, and stay up-to-date on the latest news.

Unlimited Contactless Transactions Set To Transform UK Payments Market

Plans to scrap the £100 contactless limit could boost revenue and innovation, but would also require investment in security and compliance. Under the proposals, contactless card payments could even be made for unlimited amounts, bringing them into line with digital wallets.

The Financial Conduct Authority (FCA) opened a on the plans on September 10, 2025, and is seeking feedback by October 15. They are among a raft of proposals to remove restrictions on contactless payments, which the regulator believes carry a low risk of fraud.

The regulator proposes replacing contactless limits with a system where banks and other payment service providers (PSPs) process payments whenever a transaction is assessed as low risk.

The FCA acknowledged that contactless transactions also carry risks, such as fraudulent use if a card is lost or stolen. However, it noted they account for only a small share of total unauthorised fraud, and that fraud-prevention technologies are both sophisticated and improving.

In addition, many card providers already allow customers to adjust their personal contactless limits or turn off contactless functionality on their card altogether. The regulator is encouraging firms to continue offering this choice.

Brazil's New Payment Rules Raise Compliance Stakes For Banks And Fintechs

Tighter deadlines, stricter authorisation and higher capital thresholds are set to reshape how institutions and IT providers connect to Pix, with smaller players facing the greatest pressure.

Approved earlier this week, the impose stricter compliance requirements on payment institutions and the technology providers that connect them to the financial system.

The changes appear to be in response to recent cyberattacks that have taken place using the Pix system.

Reports suggest that attackers stole $130m from Brazil’s real-time payment system last week using valid credentials for an IT service provider.

According to an ongoing forensic probe, unauthorised fund transfers at Brazilian fintech provider Sinqia, part of Evertec, were carried out using compromised IT vendor credentials.

Sinqia, which operates a Pix connection platform used by 24 of the country’s banks, suspended transaction processing after detecting the breach. It also engaged external cybersecurity experts, and some of the stolen funds have since been recovered.

Irish Banks Come Together On Mobile Payment Solution To Counter Revolut

Ireland’s biggest retail banks will launch a new joint payment solution in 2026, reviving a scrapped venture and riding the momentum of EU instant payments rules and the country’s modernisation drive.

AIB, Bank of Ireland and PTSB’s a new person-to-person (P2P) mobile payments service, Zippay, in early 2026, mark a renewed effort by Ireland’s retail banks to upgrade their offerings to compete with non-bank challengers such as Revolut.

“Developed in response to customer feedback and demand, this will provide a quick and easy way to send and receive money or split bills with friends, family and contacts who are also Zippay users,” said Brian Hayes, chief executive of the Banking and Payments Federation of Ireland.

“It will be delivered through customers’ existing mobile banking apps and therefore comes with all the same high levels of security, protection and digital safety and avoids the need for topping up a digital wallet or downloading a separate app.”

Learning from Synch’s failure

The move comes nearly two years after the same group of banks abandoned Synch Payments, a joint venture set up in 2020 to deliver a nationwide instant payments app, Yippay.

That project was wound down in late 2023 after a series of regulatory and operational setbacks. These included delays in competition clearance, the withdrawal of KBC Bank Ireland and the imposition of additional licensing requirements by the country’s central bank.

A key aim of the Zippay project is to take on Revolut, which has embedded itself in the Irish payments ecosystem to the extent that consumers use phrases such as “I’ll Revolut you” as the country moves away from cash.

Brussels Confirms EU Action Plan To Tackle Online And Telco Fraud

The European Commission has confirmed it will present a dedicated EU Action Plan on Online Fraud to boost collective efforts to combat scams that increasingly target vulnerable groups, including older people.

In a written to a parliamentary question from Italian MEP Aldo Patriciello, the EU’s commissioner for internal affairs, Magnus Brunner, said the plan will formalise existing initiatives under the and the (EMPACT).

These frameworks already coordinate cross-border law enforcement against online fraud, but will now be expanded to include preventive measures and victim protection schemes.

Brunner acknowledged that responsibility for tackling telephone scams largely lies with member states, but emphasised the EU’s role in supporting digital literacy and security standards.

Programmes such as the and aim to improve digital skills across age groups, with particular attention to older adults, who are disproportionately affected by fraudulent calls.

The Commission also used the response to highlight progress made under existing EU legislation requiring telecoms operators to strengthen their defences.

For example, under the , providers must implement robust security measures.

Eleven member states have already introduced anti-spoofing rules, obligating operators to block fraudulent calls from abroad, register SMS sender IDs and deploy caller authentication technology.

Further measures are under review as part of the forthcoming , which could expand obligations on providers to counter scams.

Patriciello’s original question, which was in July 2025, highlighted the severe economic, emotional and psychological harm telephone scams cause to older people, who are often targeted with fake emergency requests, bogus service offers and extortion attempts.

He called for a harmonised EU framework and dedicated awareness campaigns to help victims and their families recognise and report fraud.

The Commission has responded by suggesting that its forthcoming Action Plan on Online Fraud will be the key vehicle for enhancing cooperation between member states, regulators, telecoms providers and consumer organisations, while boosting prevention and victim support.

ECB Focuses On Inclusion And Resilience In Latest Digital Euro Hearing

Central bank efforts to balance inclusion, resilience and privacy come amid ongoing debates over sovereignty, system reliability and public trust, as the October deadline for a decision on the next steps approaches.

The ECB has at times struggled to convince MEPs of the value of the digital euro, and a on September 4, 2025 showed that legislators remain as divided as ever on the issue.

The split is largely between the left and right of the parliament. The former see the potential for the payment option to increase inclusion in the eurozone, whereas the latter are sceptical due to the potential impact on the EU’s banking sector should disintermediation become a problem. Right-leaning figures have also highlighted civil liberties issues such as privacy.

The ECB’s promotion of the digital euro is grounded in the geopolitical situation, with the conduct of the Trump administration in the US increasing momentum for sovereignty in multiple areas of the European economy.

“It is time to get down to it,” said the centre-left MEP Jonás Fernández, expressing disappointment that more progress has not been made in the two years since the European Commission unveiled its legislative proposal.

However, right-wing German MEP Siegbert Droese argued that the digital euro project risks replacing cash and enabling traceable payments.

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