Contactless payment limit doubled temporarily
BUNDABERG’S Auswide Bank has temporarily raised the contactless card payment from $100 to $200 in an effort to reduce COVID-19 transmission.
The decision was made in conjunction with the payments industry and means customers can now use contactless payment for purchases up to $200 and will no longer need to enter a PIN.
The new limit will be progressively introduced at certain retailers starting today and will apply to Auswide debit cards and Paybands and Low Rate and Platinum rewards cards.
Auswide chief customer officer Damian Hearne said the changes meant fewer people had to touch the payment terminal when paying for things over $100.
“We expect it to apply for at least a three-month period and will be extended if necessary based on government advice,” he said.
The new limit is being rolled out progressively by a number of banks, but will only be available at certain retailers.
Customers can find out which retailers can accept the new limit by asking the retailer or checking PIN pad prompts when paying.
And while Mr Hearne said Auswide and other financial institutions would continue to monitor accounts for fraudulent activity, he said it was also important for cardholders to protect the security of their card and review accounts regularly.