This move is part of the extraordinary measures that have been taken to prevent the further spread of the Coronavirus (COVID-19). The limit for contactless payments performed with a debit card has now been increased to EUR 100, from previously EUR 50. Customers will not be required to insert their debit cards in the payment terminal or enter their PIN numbers when making relatively small payments.
Contactless payments of more than EUR 100 will still have to be verified, as users will need to enter their PIN before the transaction can be processed. Banks in Norway have also reportedly raised the contactless limit from NOK400 (appr. EUR 33.23, press time) to NOK500 (appr. EUR 41.54, press time), to prevent the spread of the coronavirus.
Moreover, Paschal Donohoe, Ireland’s minister for finance, has recommended that local banks should increase the limit on contactless payments to EUR 50.
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