Should Card "Tap" limit be increased to account for inflation?

R

RichInSpirit

Registered User
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I used to able to fill my fuel tank by tapping but now I have to put in my Pin most of the time. It is a bit of a nuisance.
Maybe it's time to revisit the €50 limit for tapping your card and make it more inflation friendly. Maybe €100 limit?
 
Yes used in Apple Pay last week in Spain to pay for our hotel and it went through without issue. I would anticipate that card use will be in a minority in twenty years as most will use their phone/smart device.
 
RichInSpirit said:
I'm not sure if tapping is more theft friendly.
I find some of the touchscreen terminals for entering your pin number not that secure.
Click to expand...
Of course it is. You need to know the pin for it. With tap, you just need the card i.e. anyone can use it.

Banks will always err on the side of caution for this. If they raise the limit and there's a increase in pickpocketing/ frauds on cards, guess who will be blamed and on the hook for refunding the value of the stolen purchases...
 
Any new payment system is open to fraud/crime. It took hundreds of years for paper and coin money to be produced in a way that made counterfeiting very difficult. The punishment for counterfeiting and "Coining" in the UK was severe, as Catherine Murphy would tell you if she was still around.
Eventually technology will catch up with the newer payments methods.
 
To echo others here I don't think there is a limit with Apple Pay. I recently did a transaction for over €1,000 using it. I guess with the face recognition or thumb print there is a very high level of security.
 
at least you have €50 in your account
 
Yeah by using the google pay on the phone you're using 2 factors (something you have(phone), something you are(fingerprint/face scan), something you know(pin of phone)) of authentication so there's no limit I believe. With tap its just one factor which is the card(something you have) and the bank need to limit how badly it can go if your card gets misplaced.
 
Contactless limits used to be €30 pre-Covid, they were increased to reduce the need to enter PINs.

While increasing the limits further might be useful, you should be aware that if your card is lost or stolen, you will not be reimbursed for any transitions carried out before you report the loss / theft to the bank.
 
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