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Transaction limit

58 news stories about Transaction limit


What's New in Payments

FCA proposes increase in UK contactless spending limit

By Tom Phillips • 1 February 2021 • Updated 1 February 2021 • nfcw.com
FCA consultation paper on contactless spending limits graphic

The UK’s Financial Conduct Authority (FCA) is proposing to increase the limit for single contactless payments in the country from £45 (US$62) to £100 (US$137) and the limit for cumulative contactless transactions from £130 (US$179) to £200 (US$274)... More


What's New in Payments

Nine in ten UK in-store card payments are now contactless

By Tom Phillips • 22 January 2021 • Updated 22 January 2021 • nfcw.com
Barclaycard logo

Nine in ten card payments made in UK stores during 2020 (88.6%) were contactless and the average contactless user made 141 transactions worth a total of £1,640 (US$2,241) over the course of the year, according to Barclaycard... More


What's New in Payments

UK to increase contactless spending limit to £100?

By Tom Phillips • 7 January 2021 • Updated 7 January 2021 • nfcw.com
UK Financial Conduct Authority (FCA) logo

The UK could increase the limit for contactless transactions from £45 (US$61) to £100 (US$136), according to reports in the British press... More


What's New in Payments

ABI forecasts 2.5m biometric payment cards in 2021

By Tom Phillips • 18 December 2020 • Updated 18 December 2020 • nfcw.com
ABI Research logo

As many as 2.5m biometric payment cards will be issued during 2021, according to an ABI Research forecast, with more than 20 biometric payment card pilots already underway across the globe... More


What's New in Payments

Dejamobile gets Visa certification for high value contactless transaction acceptance on standard NFC devices

By Sarah Clark • 14 December 2020 • Updated 14 December 2020 • nfcw.com
Dejamobile ReadyToTap for Merchants Visa Certified Tap to Phone with PIN

PARTNER NEWS: Dejamobile has received Visa certification for a solution that enables merchants to be provided with the ability to accept both low and high value contactless transactions on a standard Android NFC smartphone or tablet... More


What's New in Payments

CIBC raises transaction limit for customers making contactless payments with a mobile phone or smartwatch

By Tom Phillips • 11 December 2020 • Updated 11 December 2020 • nfcw.com
CIBC raises mobile wallet and smartwatch contactless transaction limit

Customers of CIBC can now make purchases of up to C$250 (US$196) with their debit card using Apple Pay, Samsung Pay or Google Pay following a 150% increase in the Canadian bank’s transaction limit for in-store payments with a mobile phone or smartwatch... More


What's New in Payments

India increases contactless limit by 150%

By Tom Phillips • 8 December 2020 • Updated 8 December 2020 • nfcw.com
Reserve Bank of India seal

The Reserve Bank of India (RBI) is to raise the limit for contactless card transactions from Rs2,000 (US$27) to Rs5,000 ($67.67) from 1 January 2021, an increase of 150%... More


What's New in Payments

SBI Card integrates NFC payments into mobile app

By Tom Phillips • 1 December 2020 • Updated 1 December 2020 • nfcw.com
SBI Card logo

SBI Card Mastercard holders in India can now make NFC payments at any contactless point-of-sale terminal from their mobile device after registering their credit card on the latest version of the payment service’s app... More


What's New in Payments

OP Financial to pilot biometric payment card in Finland

By Tom Phillips • 23 November 2020 • Updated 23 November 2020 • nfcw.com
OP Financial logo

Finland’s OP Financial Group is to pilot a biometric payment card that will allow users to authenticate payments over the contactless transaction limit with their fingerprint rather than with a PIN... More


What's New in Payments

Nordic countries record surge in contactless payments during pandemic

By Tom Phillips • 20 November 2020 • Updated 20 November 2020 • nfcw.com
Nets Nordic graph showing contactless adoption in the region

The proportion of in-store purchases made using contactless cards in the Nordic countries has risen from 57% in January this year to 75% in late October, an increase “in part driven by concerns around the potential spread of Covid-19,” regional payments processor Nets reports... More


What's New in Payments

Visa: Consumers have made an extra 500m touch-free payments in Europe since contactless limits were increased

By Tom Phillips • 26 October 2020 • Updated 26 October 2020 • nfcw.com
Contactless Visa card used at POS

Visa has processed 500m additional PIN-less, touch-free transactions since contactless payment limits were increased in 29 countries across Europe in response to the Covid-19 pandemic, the card network reports... More


What's New in Payments

Azerbaijan doubles contactless transactions limit

By Tom Phillips • 25 August 2020 • Updated 25 August 2020 • nfcw.com
Central Bank of Azerbaijan logo

The Central Bank of Azerbaijan has raised the limit for all contactless card transactions and contactless ATM withdrawals in the country from 50 manats (US$29.40) to 100 manats (US$58.80)... More


What's New in Payments

One in three consumers favour a further increase in UK contactless transaction limit

By Tom Phillips • 20 August 2020 • Updated 20 August 2020 • nfcw.com
Barclaycard raises contactless transaction limit

One in three UK consumers (32%) are in favour of further raising the country’s current contactless spending limit from £45 (US$59), according to a YouGov survey... More


What's New in Payments

Morocco boosts contactless transaction limit by 100%

By Mike Clark • 28 May 2020 • nfcw.com

Morocco’s bank-owned payment acquirer, Centre Monétique Interbancaire (CMI), has raised the contactless transaction limit in the country from 200 to 400 dirhams (US$40) in response to the coronavirus crisis... More


What's New in Payments

Israel to increase contactless payments limit by 50%

By Sarah Clark • 14 May 2020 • nfcw.com
Bank of Israel logo

The contactless payment limit is to be increased from ILS 200 (US$56.35) to ILS 300 (US$84.52) “by the end of 2020”, the Bank of Israel has announced, “in order to improve dealing with the coronavirus pandemic”... More


What's New in Payments

Contactless payments growth rate doubles in Nordic countries

By Sarah Clark • 6 May 2020 • nfcw.com
Logo of Nets Nordic payment processpr for Denmark, Norway, Sweden and Finland

The contactless payments growth rate in the Nordic region has doubled during the first four months of this year, regional payments processor Nets reports, “as social distancing steers Nordic consumers away from chip and PIN”... More


What's New in Payments

Belgian consumers double their use of contactless payments

By Sarah Clark • 1 May 2020 • Updated 1 May 2020 • nfcw.com

Coronavirus has a major impact on our payment behaviour — Febelfin (translation) — “Since the limits increased, more than one in four card payments are handled contactlessly. 29% of card payments were made via contactless in April. This represents a doubling compared to February of this year (16%).”


What's New in Payments

Visa reports on impact of Covid-19 on contactless payment adoption

By Sarah Clark • 1 May 2020 • nfcw.com
Visa

“While the full impact of Covid-19 on tap to pay adoption across the world is yet to be fully seen, early indications highlight a shift in consumer spend toward every day, essential segments where contactless usage is high, such as grocery and pharmacy,” Visa says... More


What's New in Payments

Central banks increase contactless transaction limit in UAE, Bahrain and Kuwait

By Sarah Clark • 29 April 2020 • nfcw.com

Central banks in the UAE, Bahrain and Kuwait have all increased the contactless transaction limits in their country, in a bid to combat the spread of Covid-19... More


What's New in Payments

Barclaycard reports on impact of contactless transaction limit increase

By Sarah Clark • 28 April 2020 • nfcw.com
Barclaycard app

The increase in the UK contactless transaction limit from £30 (US$37.50) to £45 (US$56.25) has resulted in 43% of in-store transactions valued at between £30 and £45 now being made via contactless payments, Barclaycard reports... More


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