Visa is taking action to prevent fraud on stolen credit and debit cards that are capable of initiating contactless payments. The problem exists in all countries where contactless card payments are made without online authorizations. It has become a consumer protection issue in the U.K., where that country’s Financial Conduct Authority (FCA) raised concerns this month, even though fraud on contactless transactions is only slightly higher than on contact-type transactions. There are nearly 110 million contactless cards in the U.K. Visa holds a 96% market share of the debit cards in circulat...