Contactless card limit temporarily increased from $100 to $200 to stop the spread of COVID-19
In an effort to help stop the spread of COVID-19, the Australian Payments Network announced today that it will be temporarily increasing the contactless card limit from $100 to $200. This means that as of this month, Australians will not be required to enter a PIN number for transactions under $200.
CEO Andy White said of the decision, “The increased limit is a pragmatic and important 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.”
This latest development comes less than a week after the Australian Department of Health advised shoppers to use cards over cash.
How long will the new contactless limit be in place?
The new $200 limit will begin this month and be rolled out rapidly to different cards and retailers. The Australian Payments Network described the new measure as a temporary change that will be in place for the next three months, pending further advice from the Federal Government.
Will my money be secure with the new limit?
According to information available on the AusPayNet website, banks and other financial institutions will continue to monitor accounts for any signs of fraudulent activity. That said, White did warn that “consistent with long standing advice, consumers are encouraged to look after their cards like cash to protect against theft.”
Check out our guide on credit card fraud, for more tips on how to keep your money safe.
How will I know if I can use the new limit?
If the new $200 limit has been applied to your card and the retailer you’re shopping at also has access to it, then you should know if you can use it by following prompts on the chip and PIN machine.
Granted the new limit is available to you, you should be able to tap-and-go without entering your PIN for purchases up to $200.
As a retailer, how do I know if the new payment limit is available to me?
If you’re a retailer, AusPayNet has said that your acquirer will alert you when the new limit becomes available. For now it has simply advised to follow the prompts on the chip and PIN machine.
Are you a small business owner struggling in these uncertain times? Why not read Mozo’s guide to the government’s financial support for small businesses.
Or if you’re starting to feel like your debit card is a little outdated, check out our compare debit cards table to see if it might be time to give your everyday transaction account a bit of a remodel.
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