Norwegian banks increase domestic contactless card transaction limit

 Norway BankAxept contactless payment card being tapped on terminal
MINIMISING CONTACT: Norway is increasing the contactless transaction limit for its BankAxept debit card

Norway is increasing the transaction limit for BankAxept domestic contactless debit card payments from 400 kr (US$34.28) to 500 kr (US$42.84) “in order to minimise the number of physical touch points where infection can be transmitted”.

“The change comes into effect as of today, and is out in the biggest chains and pharmacies over the next few days,” Finance Norway announced on 19 March.

“From the end of week 13 [29 March] you do not have to enter a PIN for amounts below 500 kr in almost all stores.”

“About 9 out of 10 payments are for purchases under NOK 500, so as of next week most purchases can be made without contact,” the banking association said.

“This does not apply to other international payment solutions,” it added. “8 out of 10 payments in Norway are made with BankAxept.”

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