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Contis enables more choice over £100 contactless cap

By Joy Dumasia

October 22, 2021

  • API
  • Banking-as-a-Service
  • Contactless Services

Contis, the European leader in Banking-as-a-Service (BaaS), announced it would launch variable contactless limits for consumers, driving more flexibility, security, and payments possibilities for everyone.

The move comes as the joint HM Treasury and FCA decision to increase the contactless threshold from £45 to £100 rolls out across the UK today. This means that any business customer leveraging Contis’ BaaS innovative solutions will soon have full control at their fingertips by setting their contactless payment threshold.

Peter Cox, Chair and Founder at Contis, said: “By introducing contactless limit controls for individual accounts, we’re giving customers the autonomy to set their own comfort level and stay in control of their money. This is particularly powerful when looking at parental control of linked accounts for children, or linked cards for carers shopping for the vulnerable, for example. As the leading BaaS provider in Europe, we are bringing this functionality to businesses, big and small. From the fintech start-up to the multinational card issuer, we’re enabling our client base to deliver cutting edge payments technology solutions to their customers.”

Contis helps businesses rapidly launch accounts, cards and payments services for their customers. The most trusted provider in the market, Contis delivers 99.99% uptime, serves 2+ million customers and processes over €9.9bn a year. Founded in 2008 by Peter Cox, Contis provides award-winning B2B banking and payment solutions. One of the FT1000: Europe’s Fastest-Growing Companies in 2018, 2019 and 2020.

Recently, IBS Intelligence reported that Solarisbank AG, a European Banking-as-a-Service platform, announced that it had raised €190 million in an oversubscribed Series D funding round, valuing the company at €1.4 billion. The round was led by Decisive Capital Management, with support from growth investors, including Pathway Capital Management, CNP (Groupe Frère) and Ilavska Vuillermoz Capital.

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