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Wednesday, October 21, 2020

Tap and pay limit doubled to $200 to stop spread of virus

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Australians will from next week be able to tap and pay for things up to the value of $200 without using their PIN, following a change designed to combat the spread of the coronavirus.

The Australian Payments Network on Friday announced the $100 contactless card PIN limit would be doubled for a three-month period, and could be extended if necessary.

The self-regulatory body for the payments industry said the move would reduce the need for physical contact with the payment terminal.

Chief executive Andy White said the new limit would be progressively introduced across certain cards and at certain retailers, with major supermarkets expected to be among the first.

The Assistant Minister for Financial Services Jane Hume, and the Shadow Assistant Treasurer, Stephen Jones, both welcomed the change.

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