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How is this system different to contactless payments all over Europe which have no such problem and have been widely used for years?

The fact that there's a 30 EUR limit per transaction before the terminal spits out a PIN challenge in Europe.

That limit doesn't exist for phone payments.

But then again those payments are not tap-to-pay as they require some form of authentication (e.g. FaceID).

In UK it's 100 quid now I think.