I use it as my main card, and while I’m sure there is internal risk analysis, as far as I’ve seen and heard there’s no hard maximum on contactless.
This isn’t actually the case. While the UK CVM waiver of £30 obviously applies for domestic transactions, several people have reported using the physical card for over £30 following successful CVM processing - @anon44204028 is one I can name.
But with some banks cards it IS still possible to do contactless transactions over £30.
The only difference is that above £30 it is contactless PLUS further verification such as PIN or signature.
In my case I have spent £40-50 with contactless and signature just recently with a Starling card.
I have not been able to do so with my latest Monzo current account card, though had succeeded with an old Beta card.
And thank god for that! Because I can tell you for a fact, that a lot of shopkeepers that get you to sign for a transaction, don’t care what signature you write on that receipt.
but it is signature without inserting the card and without the chip being read thru contact, purely contactless with addition of signature. Very odd, as personally I think contactless with PIN is a better idea.
It’s not actually true, just because it’s been heavily-advertised. The limit is simply a cardholder verification exemption for contactless. Over £30, contactless is possible with normal CVM liability rules (including lost/stolen liability shift if the issuer supports online PIN but the merchant does not).
It depends, but not necessarily, there are exceptions.
Not odd at all, it relates to CVM processing. The card prefers online PIN for contactless, but if the merchant doesn’t support online PIN, the terminal will proceed down the CVM list until a mutually agreeable CVM is found, and if one isn’t, CVM processing will fail.
I don’t have solid numbers but I believe there are far more signature transactions today that are EMV where signature is selected as the CVM than there are swipe and sign transactions.
Remember, in some countries most or all EMV cards do not have PIN for purchases in their CVM list.
You’re changing your rules. Read what I said… I said the CVM waiver was £30. By definition, that means over £30 should normally require additional cardholder verification.
CVM waiver is not the same as an absolute contactless limit.
I’m sure that’s the case. But this dude asked what is the limit, do you really think he wanted the complicated Einstein answer? Or that he just wanted to know what he could spend in a shop using contactless
It is just a marketing spin by UK banks at the launch of Visa PayWave and MasterCard PayPass and nice and simple for tabloids soundbites. In reality it is the CVM liability waiver level for Great Britain and Northern Ireland. It is not a level for contactless payments.
And the answer isn’t simple. It varies greatly. If the shop supports online PIN (or CDCVM if they’re using Google Pay) there’s no reason one wouldn’t be able to spend thousands.
There may even be some rare cases where signature CVM was selected and it was possible on that alone.
Nope, because a higher level transaction could be completed by online PIN, or rarely by signature (though a shop that allowed that would be liable for any fraud as both online and offline PIN support are required to meet the lost/stolen liability shift rules).