Customers of DBS Bank in Singapore can now lock or unlock their debit or credit cards, enable or disable certain types of transaction — including contactless and mobile payments — and set a monthly spending limit for their card accounts from their digital banking app in real time... More
Transaction limit
UK to increase contactless transaction limit to £100 from October
The UK will begin rolling out a new £100 (US$137) spending limit for contactless payments from 15 October 2021, UK Finance has announced... More
Juniper forecasts contactless card transactions will total US$2.5tn globally in 2021
The total value of contactless card transactions worldwide will reach US$2.5tn in 2021, up from US$1.7tn in 2020, Juniper Research predicts. The researchers also forecast that card payments will retain “the majority share of overall contactless transaction values at 79% in 2021”. More
Forecast: Contactless to account for more than half the total value of all POS transactions by 2026
Contactless payments will account for more than half (57%) of the total global value of transactions made at the point of sale (POS) by 2026, compared with just under 25% in 2021, Juniper Research predicts... More
UK to raise contactless transaction limit to £100 on 5 August?
The planned increase in the UK’s contactless transaction limit from £45 to £100 announced by the UK Treasury in March could come into effect on 5 August, according to a Reddit user... More
Three in ten UK consumers now use mobile phones and wearables for payments
Some 17.3 million people or nearly a third (32%) of adult consumers in the UK were registered to use their smartphone or smart watch to make mobile payments in stores by the end of 2020, a “significant” increase of 7.4 million people compared with 2019, according to UK Finance... More
China Construction Bank pilots biometric cards for digital currency payments
China Construction Bank (CCB) is piloting a biometric ‘hard wallet’ smart card that lets customers store digital yuan and authenticate payments made using the central bank digital currency (CBDC) with their fingerprint... More
BBVA launches biometric credit card in Mexico
Customers of BBVA Mexico can now apply for a ‘blank’ biometric credit card that enables them to authenticate payments with their fingerprint... More
PBOC: Chinese consumers will be able to store their digital currency in both physical and digital wallets
Chinese consumers can now open digital yuan wallets using different levels of customer identification depending on the transaction and balance limits they require and can activate wallets “with the lowest authority” with just their mobile phone number in line with the “principle of controllable anonymity”, the People’s Bank of China (PBOC) has revealed... More
Market Pay picks Dejamobile to let merchants accept contactless payments on NFC devices
PARTNER NEWS: Market Pay is enabling merchants to use a standard Android NFC smartphone or tablet to accept contactless payments at the point of sale without needing any additional hardware... More
Crédit Agricole issues biometric payment cards in France
Customers of Crédit Agricole can now use their fingerprint to authenticate contactless payments made with a biometric deferred debit card issued by the French bank... More
German savings banks roll out contactless card acceptance on standard NFC phones
Merchants in Germany can now accept PIN-free contactless payments on their Android NFC smartphone without needing extra acceptance technology using a software point of sale (sPOS) solution launched by the Sparkasse group of savings banks... More
Stats show regional variations in UK adoption of contactless and mobile payments during pandemic
The number of payments made using Apple Pay and Google Pay increased by nearly 650% and the number of PIN-free contactless card transactions grew by more than 10% in certain regions of the UK, according to figures published by merchant payments provider Dojo... More
Visa reports 1bn extra contactless transactions in Europe since payment limit rises
Visa has processed 1bn additional PIN-less, touch-free payments since 29 countries across Europe increased contactless transaction limits in response to the Covid-19 pandemic last year, the card network reports... More
UK to more than double contactless spending limit to £100
The UK is to increase the limit for contactless transactions from £45 (US$63) to £100 (US$140), the UK Treasury has announced... More
FCA proposes increase in UK contactless spending limit
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
Nine in ten UK in-store card payments are now contactless
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
UK to increase contactless spending limit to £100?
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
ABI forecasts 2.5m biometric payment cards in 2021
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
Dejamobile gets Visa certification for high value contactless transaction acceptance on standard NFC devices
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