April 6, 2020
In the fight against the virus
Corona virus: higher limit for contactless payments
Many people have followed the requests in the supermarket and are currently paying more and more without contact. This is to avoid unnecessary contact with cash and a possible smear infection. Now there is an innovation.
In order to further contain the coronavirus pandemic and to avoid new infections with Sars-CoV-2, we are all asked to act. Many supermarket consumers have followed the request of supermarket employees and are now paying contactlessly to avoid the risk of contracting the infection Corona virus keep low for yourself and others. In order to avoid contact with the device when entering the pin, this should now also be done Limit for contactless payments can be increased.
Corona virus: Limit for contactless payments is increased
The German credit industry (DK) has now announced that amounts up to 50 euros will soon be payable using the contactless payment method. Because the German banks and savings banks now want to increase the limit for contactless payment without entering a PIN in the wake of the corona crisis.
The advantage of contactless payment is that the card does not have to be inserted into the reader and no pin has to be entered at the terminal. The plastic card only needs to be held up to the terminal. However, this payment method has so far only been possible up to an amount of 25 euros. With a higher amount, either the entry of your own pin or the signature was due. When raising the limit, this is only necessary from an amount of 50.01 euros.
Banks decide for themselves
This simple and fast payment process has become increasingly popular since the Corona crisis: Over the past few days, more than half of all Girocard payments have been made contactless – compared to just 35 percent in December.
The precise implementation of the measure is up to the respective institutions. Therefore, depending on the bank, it will differ when customers can expect the limit for contactless payment to be raised. The rule that the personal PIN must be entered after five transactions with the checking card or after a total of 150 euros remains in effect.
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