[Technology] Contactless Payment Limit Change

[surrey jim]

There is now a push to increase to £100

https://www.finextra.com/newsarticl...ynewsletter&utm_source=2021-1-5&member=118959

 

[Justice]

Don’t take my card out these days always use apple pay which is unlimited I think?

 

[Barham's tash]

There is now a push to increase to £100

https://www.finextra.com/newsarticl...ynewsletter&utm_source=2021-1-5&member=118959

Interesting.

A move such as this would be a step towards completely severing ties to regulation such as PSD2 or PAD implementations legislated by the EBA.

Such a move would prove costly as banks etc are nearly all c2/3 to 3/4 of the way through implementation of the required changes most of which make perfect sense from a fraud mitigation perspective.

I’d be in favour of a higher ceiling but no raise to the cumulative amount of £150 that sees the need to then input a PIN. This being the limiting factor on fraud liability both to the cardholder and bank in the case of misuse and lost/stolen cards.

 

[Super Steve Earle]

If only very elderly people and the partially sighted, and anybody who struggles to remember a PIN or see the number buttons or press them due to medical issues, or actually everybody, would trust Contactless.

 

[Marty___Mcfly]

Phone payment beats contactless card. Much more secure with Face ID, encryption etc. And often no limit on the payment amount so very convenient. I use Apple Pay / the Tesco pay app and have had no problems.

 

[Badger]

The limit has been $100 (around £60) here in Canada for years. I tapped something for over $100 a few weeks ago, which I though was strange. It turns out it's just gone up to $250.

I'm all for it. Although I'm going to struggle to remember my PIN. I've barely used it in the last year.

 

[Leekbrookgull]

All gone to China and the sea change.