As with any new technology, when contactless card payments came out there were many who were sceptical about whether this form of payment would be safe. Over the last few years, though, we have seen a large rise in the number of people using contactless technology.
Many consumers have begun to trust the payment method, which has increased the convenience of transactions: In April 2017 alone, 416.3 million people used their contactless card to pay for their transaction.
The rules of contactless payments
As most people are now aware, contactless payments can be made on any purchase under £45, which was increased from the previous £30 limit during the COVID-19 situation. This helps to prevent fraud and excessive use of the payment method should your contactless debit or credit card be lost be stolen.
According to GoCompare, 42% of users would want that limit to be raised but, for now, it’s set to stay at that level. There aren’t many other rules in place when it comes to contactless cards, despite a few myths around it.
How often can I use it?
Many people feel as though there is a cap on the number of contactless transactions that can be made in a single day, but while the bank may sometimes want to make sure no fraud is happening, this is not strictly true.
There is no limit to the number of times you can use a contactless payment card in a day via the contactless method, but there is a caveat to this. Intermittently, your bank may ask for you to enter your PIN to ensure it’s you – and not anyone else – that is using your card.
Similar to how you have to use your PIN when you first use the card, this is to reassure the bank that your card isn’t being used by anyone else. Once you have used the PIN, you’ll be free to use your debit card again, whether you’re using it as a replacement for your old oyster card or mobile service (such as Apple Pay).
This means that if you’re ever out and your contactless payment stops working, it’s simply the bank protecting you from fraud. Hopefully at that point, you haven’t used your contactless card so much that you’ve forgotten your PIN!
Take a look at our contactless payment machines and improve your business today.
May 31, 2019