The move comes as the joint HM Treasury and FCA decision to increase the contactless threshold from GBP 45 to GBP 100 rolls out across the UK. This means that any customer of a business leveraging Contis’ BaaS innovative solutions will soon have full control by setting their own contactless payment threshold.
Company officials stated that introducing contactless limit controls is a useful tool for parental control of linked accounts for children or for carers shopping for the vulnerable.
In July 2021, Contis announced they were joining forces with Solarisbank for Baas services following the latter’s series D funding round, raising EUR 190 million and valuing the company at EUR 1.4 billion.
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