Starting next week, the PIN limit for most contactless card payments will be increasing from $100 to $200 to reduce the need for physical contact with payment terminals.
Members will see an increasing number of retailers accepting contactless card payments without a PIN up to the new $200 limit. The new limit will be progressively introduced across certain retailers, with major supermarkets expected to be among the first. When paying for purchases, members should be guided by following the PIN pad prompts.
The new $200 limit is expected to apply for a three-month period and will be extended if required.
AusPayNet CEO Andy White said, “The increased limit is a pragmatic response to a changing environment. Consumers are tending to buy more, less often. The new $200 contactless limit will mean fewer consumers need to touch the payment terminal.”
Jane Hume, Assistant Minister for Superannuation, Financial Services and Financial Technology, welcomed the move, “Raising the contactless limit is a sensible and practical measure to slow the spread of coronavirus. It will help Australians stay safe and confident when shopping for essentials”.
Contactless transactions are highly secure. However, members are encouraged to look after their cards like cash to protect against theft.