100 PLN limit for VISA contactless payments
VISA confirmed that it will increase the limit for contactless transactions from 50 PLN to 100 PLN. New regulation of VISA will come into force on July 17th 2020. In real life, the cardholder will be granted with access to the increased limit in Q4 of 2020.
Increase of the limit is possible thanks to consents granted by the National Bank of Poland back in 2018 (MasterCard) and 2019 (VISA). Originally the limit increase was planned for 2019, however it was postponed because of PSD2 implementation works.
Increasing the contactless transaction amount limit does not change the rules of authorization – from September 14th 2019 contactless payments without PIN may be accepted if:
- cumulative amount of previous contactless electronic payment transactions initiated by means of a payment instrument with a contactless functionality from the date of the last application of strong customer authentication does not exceed EUR 150; or
- number of consecutive contactless electronic payment transactions initiated via the payment instrument offering a contactless functionality since the last application of strong customer authentication does not exceed five.
In other words at least every fifth contactless transaction will require PIN based athorization.
I encourage you to contact the Law Firm – we provide, among others services related to:
- payment services,
- representation before the KNF,
- obtaining the status of small payment institution (MIP),
- obtaining the status of a national payment institution (KIP),
- designing and adapting systems and internal regulations to the requirements of EUNB and KNF
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