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Börse Express – Banking industry doubles limit for contactless payments

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Millions of Girocard owners in
Germany should soon have amounts of up to 50 at the supermarket checkout
Euro can contactlessly pay in passing. The German
The banking industry wants the limit for card payments without
Double PIN entry in retail from 25 to 50 euros per use.

The “use of this hygienic payment method”
expanded, the umbrella organization of the five major banking associations announced
Monday with. “This makes it easier, especially in the current situation
additionally the payment process at the checkout for retail and customers. ”
The change should be implemented technically as soon as possible,
probably within a few weeks.

“Contactless” means that the customer has his or her credit card
Does not have to insert the Girocard into a device. The data will
encrypted with the terminal at the checkout when the
Card is held in front of the reader. With small amounts
it is not even necessary to enter the secret number (PIN).

According to the banking industry, 75 million are now
over 100 million Girocards in Germany with the
Contactless function equipped. Trading makes it quick
Pay by most recent numbers at almost 755,000 terminals – tendency
increasing.

Many businesses are encouraging customers in the face of the spread of the
Corona virus, this way to pay for a potential
Avoid transferring the virus via cash or bank card.
Credit card providers such as Mastercard had that
Contactless payment limit recently
raised./ben/DP/jha

 ISIN  US57636Q1040

AXC0196 2020-03-30 / 12: 17

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