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High Value Contactless Payments Available Across Europe By 2017

The move follows the payment network’s confirmation that all POS terminals across the continent will be able to accept contactless transactions by 2020. The contactless limit increased from £20 (US$30) to £30 (US$46) in the UK this month.

Using payment services such as Apple Pay, consumers can already make higher value (+£30) contactless transactions by authenticating themselves with their fingerprint or a PIN code on their mobile phone or other device. However, currently this is only available at selected retailers. By 2017 all contactless terminals will be upgraded to allow higher value payments.

Source: www.thepaypers.com

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