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There is a transaction / amount limit for contactless transactions. Banks generally keep it secret for security - but it can be something like "transactions ove
by glogla 3y ago
There is a transaction / amount limit for contactless transactions. Banks generally keep it secret for security - but it can be something like "transactions over x EUR need PIN and also ever fifth will need PIN".
It is pretty annoying because there are a lot of terminals that don't have the PIN keyboard, e.g. on vending machines. If you card decides it needs PIN, you are not buying, unless you can sidestep it using a phone.
- ghaff 3y ago>There is a transaction / amount limit for contactless transactions. It doesn't seem to be universal though. I paid for multiple hotels in Europe (so hundreds of pounds/Euros) with contactless payments and--although I actually made a point of making sure my card had a PIN after a problem on my previous trip--I never needed it.
- robjan 3y agoMost (if not, all) banks will send the transaction to a risk management solution such as LexisNexis including a bunch of metadata. It then assigns a risk score and your bank will factor that in with their risk appetite when deciding whether to ask for your PIN.