Poland, Ireland and the Netherlands raise the contactless transaction limit, to minimise the handling of cash amid COVID-19. Should Romania follow?

23 martie 2020

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.

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Adrian Vasilescu – consilier de strategie al guvernatorului BNR

„O singură provizie am făcut, de card, pentru că nu mai umblu cu banii în buzunar. Banii sunt cei mai periculoși când este vorba de răspândirea unei molimi. Am renunțat la cash. În rest, este o prostie să faci provizii. Dacă vine o molimă și nici nu știi când va ajunge, dacă ar fi să se întindă, pe cât timp să poți să faci provizii? Faci provizii pe trei săptămâni, pe patru săptămâni și mai departe?”, a spus consultantul.

Sondaj

In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale in 2020?
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