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Contactless transaction limit to increase amid coronavirus, AusPayNet reports

Friday 3 April 2020 09:46 CET | News

Australian Payments Network (AusPayNet) has confirmed that the payment industry will be increasing the PIN limit for contactless card payments.

The limit will be increased from USD 100 to USD 200 to reduce the need for physical contact with the payment terminal. As such, consumers will begin to see a growing number of retailers accepting contactless card payments without a PIN up to the new USD 200 limit. Given the sheer numbers of cards, payment terminals, and organisations involved, the new limit will be progressively introduced across certain cards and at certain retailers, with major supermarkets expected to be among the first. 

The new USD 200 limit is expected to apply for a three-month period and will be extended if required. Similar increases have been implemented or are under consideration in other countries around the world in response to COVID-19.

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Keywords: payments, contactless transaction, COVID-19, cards, PIN, AusPayNet, regulations, coronavirus, payment terminals, retailers
Categories: Payments & Commerce | Online Payments
Countries: World
This article is part of category

Payments & Commerce