To our valued customers,
As you may be aware, the PIN limit for contactless card payments has been increased from $100 to $200.
Australian Payments Network (AusPayNet), the self-regulatory body for the payments industry, confirmed that this increase has been made in an effort to reduce the need for physical contact with the payment terminal, following the outbreak of the Coronavirus (COVID-19).
Starting 7 April 2020, you will begin to see more retailers accepting contactless card payments without a PIN for purchases up to $200.
It is important to note that whilst this change by AusPayNet has been agreed to by VISA, who is Arab Bank Australia’s issuing partner, it is only optional for other issuers and merchants to adopt. For this reason, you may experience inconsistency across certain payment terminals where the merchant has kept the maximum Paywave transaction at $100.
Most major supermarkets and retailers have already effected the new $200 limit and it is anticipated that this change will apply for the next 3 months, with the possibility of an extension.
In summary, for payments between $100 and $200, Paywave (contactless) transactions should not require a PIN. In some cases you may be asked to enter your PIN depending on whether or not the merchant’s eftpos terminal has been updated. Please note, when paying for purchases you should be guided by the PIN pad prompts.
We ask that you continue to apply diligence when storing and using your card in order to maintain the security of your details and to protect yourself against theft and fraud.
We encourage you to get in touch with your Branch Manager with any questions you may have regarding the new Paywave limit.
Executive Manager, Banking