As with any new technology, when contactless readers and card payments came out there were many who were sceptical about whether contactless technology would be safe when compared to traditional chip and pin methods. Over the last few years, though, we have seen a large rise in the number of people using contactless card reader technology, as well as businesses accepting contactless payments.
Many consumers have begun to trust the payment method, which has increased the convenience of transactions: In April 2017 alone, 416.3 million people used their contactless card to pay for their transaction.
The rules and limits of contactless payments
As most people are now aware, contactless payments can be made on any purchase below a certain value and on any payment machine bearing the contactless symbol. In 2020, contactless payments received a limit increase from £30 to £45 during the coronavirus pandemic to make using cards easier for everyday purchases. This helps to prevent fraud and excessive use of the payment method should your contactless debit or credit card be lost be stolen.
According to GoCompare, 42% of users would want the contactless limit to be raised but, for now, it’s set to stay at that level. There aren’t many other rules in place when it comes to contactless cards, despite a few myths around it.
How many times can you use contactless payments per day?
Many people feel as though there is a cap on the number of contactless transactions that can be made in a single day, but while the bank may sometimes want to make sure no fraud is happening, this is not strictly true.
There is no limit to the number of times you can use a contactless payment card in a day via the contactless method, but there is a caveat to this. Intermittently, your bank may ask for you to enter your PIN to ensure it’s you – and not anyone else – that is using your card.
Similar to how you have to use your PIN when you first use the card, this is to reassure the bank that your card isn’t being used by anyone else. Once you have used the PIN, you’ll be free to use your debit card again, whether you’re using it as a replacement for your old oyster card or mobile service (such as Apple Pay).
This means that if you’re ever out and your contactless payment stops working, it’s simply the bank protecting you from fraud. Hopefully at that point, you haven’t used your contactless card so much that you’ve forgotten your PIN!
Bring your business up to date
If you own a small business and you haven’t adopted contactless technology yet, you could be missing out on shorter wait times and therefore an opportunity to improve your customer service. If you would like to learn more about the range of card machines that Rapyd offers, take a look at our contactless payment machines and improve your business today. Alternatively, please feel free to contact us, and we will be happy to help.