Gold FM

Search results: ''


News / Contactless Paywave limit raised to $200

Contactless Paywave limit raised to $200

Contactless Paywave limit raised to $200

Posted April 09, 2020

Media Release: Payments NZ

New Zealand’s payments industry will progressively roll out an increased temporary PIN limit of $200 for contactless card payments over the coming days and weeks. This increase is up from the current $80 limit for contactless cards.

The change will reduce the need for customers to touch PIN pads in the wake of the COVID-19 pandemic.

The temporary increase was introduced on 9 April and is expected to be rolled out across cardholders and retailers over the coming weeks. It could take a few weeks for the roll out to be completed due to the number of cards, payment terminals and businesses involved.

In raising the limit, New Zealand joins other countries around the world including Australia, that are adopting measures to help restrict the spread of COVID-19.

Not all New Zealand banks are able to apply this limit increase on existing cards right away due to technology constraints, this includes ASB and TSB Bank. However, all new contactless cards issued by TSB and ASB from 9 April will have the new temporary $200 PIN limit applied.ASB customers with ASB Mobile Pays – Apple, Google, Garmin and FitBit Pay will be able to use their device to access the $200 contactless limit from the time the industry rolls it out.

The new $200 PIN limit will automatically be applied to payments made in store using your mobile phone with Google Pay or Apple Pay. You will not have to make any changes to the existing card details on your phone.

You may have noticed that some terminals already don’t ask for a PIN. This is because some terminals are set up to know your mobile has identified you using your fingerprint or face ID, and don’t then require a PIN for any limit. That will continue at those terminals.

Banks and card providers will continue to monitor transaction accounts and alert customers to any unusual activity. If you have any concerns about unauthorised transactions on your account, please contact them. We also advise all customers to treat their contactless cards like they would cash and take the necessary precautions to keep them safe. While contactless cards are a secure way to pay, if lost or stolen, they should be reported immediately to your bank or card provider.