The tech is fundamentally fine - where the problem arises is human behaviour. When offline contactless payments first emerged in the U.K., there was a signific

The tech is fundamentally fine - where the problem arises is human behaviour. When offline contactless payments first emerged in the U.K., there was a significant spike in unplanned overdraft usage and disputed transactions, as people rapidly realised it essentially worked as a free line of credit, up to £100 or £250 depending on your issuer. This quite quickly caused issuers to push up prices on offline transactions, which made them less appealing to merchants - add to that that people were talking about them being a hotbed of fraud, and merchants err away from offering them, PCNs start dropping the capability due to lack of demand, and here we are today.