BPFI Rolls Out Increased Contactless Payment Limit, As Demand For Cash Down 20%
Published on Apr 1 2020 11:35 AM
Banking & Payments Federation Ireland (BPFI) said that it will rollout an increased contactless payment limit from €30 to €50 with the aim of delivering the new increased limit across all retail outlets nationally.
The group that represents the banking, payments and fintech sector in Ireland said that currently the demand for cash is down 20%.
“The roll out is well underway and BPFI is working in collaboration with all the various parties involved, to make sure the new limit is available across all retail outlets by 1 April," said Gill Murphy, head of payment schemes, BPFI.
"We are working together to make it happen as a matter of urgent priority in order to facilitate consumers’ ability to make some payments without the need for physical contact,"
Murphy highlighted that due to the many technicalities involved there is no central method by which this can be delivered, but rather it is case of all parties working together to ensure consumers can avail of the new limit of €50.
"We are confident that it will be complete by April 1st," she said.
“In these challenging times we also encourage consumers and retailers to follow the HSE advise when using card terminals to pay for goods in-store where the input of a PIN may still be required," Murphy added.
"And in addition, we would also remind consumers that in a time where we may all be shopping on-line more, we need to ensure we protect ourselves and think about our own personal security as we shop.”
Musgrave announced on the 24 March that SuperValu, Centra and Musgrave MarketPlace have enabled their card terminals to accept a new €50 contactless limit (up from €30).
The change will be in effect until further notice, the group said.
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