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April 29, 2020

Visa welcomes move to raise PIN-less contactless payment limit in UAE

Users of Visa card in the UAE will now require a PIN to make contactless payments only above AED500 ($136.12). The previous threshold was AED300 ($81.67).

The rise in the Card Verification Method (CVM) limit for contactless payments in the UAE has been cleared by the country’s central bank and Visa has welcomed the move.

The PIN-free contactless transaction limit has increased by 67%, which allows consumers to tap-to-pay with their card, mobile phone or a wearable device.

The central banks in Saudi Arabia, Kuwait, Bahrain, and Egypt also increased the limits on PIN-less contactless payments.

The contactless cards using Visa Easy Payment Service are said to significantly reduce the risk of fraudulent transactions.

In addition to convenience, contactless transactions are also safer with multiple security layers.

Visa welcomes the move

Visa is working closely with governments across MENA to enable the growth of contactless transactions.

It is working with local banks and merchants to implement the new limit on Visa contactless cards in the UAE.

Visa UAE General Manager Shahebaz Khan said: “The UAE Central Bank’s decision to increase PIN-free limits for contactless transactions in the country will allow larger everyday purchases to be made using this fast, easy and secure way to pay.

“Today, with more consumers and merchants relying on contactless technology to pay and be paid, the new PIN-free limit is a positive move by the UAE Central Bank and reflects its responsiveness to consumer needs and evolving market conditions.”

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