Consumers may soon be able to pay larger purchase amounts with their contactless bank card. While more and more people are dreading typing their bank card code on a keyboard used repeatedly by other customers, banks are studying the possibility of increasing the card limit from 30 to 50 euros . "Our customers demand it," says a banker. The public authorities would also welcome the raising of this ceiling. The decision will be decided early next week. Already popular, contactless payment (37% of card payments in February) is gaining ground in this period of confinement. Since mid-March, it has increased by 4% on average, with a more marked increase in pharmacies (+ 10%) and bakeries (+ 6%).
Weeks of testing in banks and merchants.Two weeks ago, the European Banking Authority (EBA) recommended that the authorities responsible for payment services in each of the 27 countries of the Union raise the limit for payments by contactless bank card to 50 euros. This is the limit authorized on the Old Continent. The objective is to limit the use of banknotes or coins, on which the Covid-19 virus could remain attached.
Since then, banks, but also traders, manufacturers and the test center of the Groupement des Cartes Bancaires (manager of the card payment system in France, identifiable by its CB logo, whose main members are French banks) tests (modification of card chip settings, new configuration of merchant payment terminals ...) to ensure the feasibility of the project. “Changing the ceiling for bank cards in a few weeks is a titanic undertaking. It could pose a huge risk to the payment industry , ” says a banker. The bank card is in fact the most used means of payment in France. “In the current context, we absolutely have to guarantee the proper functioning of the payment system. We will only decide to raise the ceiling if we believe that all the risks are under control, ” adds the banker.
Four to eight weeks before entry into forceIf the raising of the ceiling is finally decided, it will be necessary to wait at least four to eight weeks before it is effective (against two to three years for the passage from 20 to 30 euros). "The time required to secure the process with all the players (banks, manufacturers, traders, carriers)" , specifies the Bank Card Group.
At that time, the French may no longer be confined, but the barrier measures against the spread of the virus will still be in place.
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