Originally Posted by
invisible
If I understand correctly, maximum amount of transaction via contactless mode could depend on one or more (or all) factors below:
- Issuing bank
- Mode of transaction - NFC directly via card, NFC via Apple/Samsung/Google pay, MST via Samsung Pay
- Terminal/merchant
- Payment Processor
- Payment Network (VISA, Mastercard, etc)
- Regulations
As an example, contactless transaction directly with a card can have limitation of one amount but doing the transaction via phone with the same card added to Apple/Samsung Pay has different amount.
Could you provide some examples of limitations for different jurisdictions/payment methods and so on?
There is no maximum on the $$$ amount for contactless mode in the U.S. I could wave my card over the terminali for a $10,000 transaction, and it would still be approved. I also don't know of any limits to the number of transactions before the chip has to be used again.
1) The U.S is more resistant to contactless payments, and laws provide zero liability to the cardholder for fraud, so I don't see I need or purpose to cap contactless amounts up to $30 USD like the UK did.
2) We don't use chip and PIN here, but just chip, so there's no purpose to require the cardholder to use the chip after "x" amount of contactless transactions.
The only regulations regarding contactless that should exist include:
1) Not discriminating against contactless users by providing the same rewards as a person using the chip with the same card at the same merchant.
2) Expanding zero liability protections to contactless payments (which they pretty much are already, but debit card protections could be improved a bit).
3) Mandating EMV contactless and not allowing MSD contactless.