Banks in Ireland have agreed to increase the contactless transaction limit from €30 to €50, The Irish Times reports. The increase has been requested by Ireland’s Minister for Finance, Paschal Donohoe, and is expected to take until 1 April to be fully in place.
“Sources said this still needed to be worked through with a number of parties, including providers of point-of-contact devices used in shops, banks, individual card schemes, as well as the retail sector,” the newspaper says.
“The planned increase is expected to take effect in stages up until the start of next month.”
Also, the payment card operators in Poland are increasing the limits on contactless payments. Until now, you could pay by card in Poland without entering a PIN code for transactions up to PLN 50. Now the limit increases to PLN 100.
„In response to the expectations of the regulator, traders and consumers, on March 19, 2020, the limit applicable in Poland for Visa contactless transactions without entering a PIN (PLN 50) will be raised to PLN 100,” Visa told money.pl.
With immediate effect, Dutch banks are enabling customers to make more contactless payments in stores without having to enter their PIN, as part of the exceptional measures required to deter the spread of the Coronavirus, according to finextra.com.
The cumulative limit for contactless payments with a debit card, which used to be 50 euros, is now being raised to 100 euros. And while customers regularly used to have to insert their card in the payment terminal and enter their PIN even for totals below 25 euros, that will no longer be the case from now on.
In Romania, nine out of ten „face to face” payment transactions are contactless, at least on Visa cards. Furthermore, Romania is in top 10 Visa countries worldwide when it comes to contactless technology adoption. Considering the fact that for Romanian cardholders it is so popular to pay contactless, it should be natural to increase the limit in Romania as well.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below: