Tap to Pay Over $50: Contactless Payments Just Got Easier!

Contactless payment is advancing with the introduction of “Contactless Plus,” a new feature that allows transactions over the 50 euro limit. This feature is rapidly becoming more common in France, although its implementation is taking some time. Let’s delve into why this is the case.

From 20 euros to 50 euros, and now beyond?

Since its launch in 2012, starting with a limit of 20 euros, contactless payment has swiftly gained popularity among the French. Today, it accounts for over 7 billion annual transactions, nearly half of all card payments in 2023. The appeal of contactless lies in its ease of use: simply tap your card against a payment terminal equipped with NFC technology, without needing to insert the card or enter a PIN (which many of us have since forgotten) for amounts up to 50 euros. It’s this limit that will soon change with the new “Contactless Plus” feature.

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How does it work?

“Contactless Plus,” which we have previously discussed, has already been implemented in several European countries such as Spain and the Netherlands, and it allows for payments exceeding 50 euros while maintaining the simplicity of contactless. However, for added security, the process requires a slight modification: after tapping the card on the terminal, the user must enter their PIN. This step ensures enhanced security. Although this adds a step, it remains simpler than inserting a card. However, one might question the name of this new option, which isn’t exactly ‘contactless’ anymore.

Gradual rollout in France

This new capability is intriguing, but its adoption in France is gradual. Each bank is updating their cards and terminals according to their own schedules. For instance, BNP Paribas reports that 80% of its merchant clients already have compatible terminals, while other sectors, like big retail chains, might not see the benefits until 2025. Some banks, such as Fortuneo, have not yet adopted this technology but plan to do so in the coming months. Meanwhile, merchants will also need to update their equipment.

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Apple Pay remains much more convenient

Alongside the rollout of “Contactless Plus,” Apple Pay and other mobile payment solutions continue to grow in popularity. Launched in 2014, Apple Pay also allows for contactless payments without a limit, as long as the amount is within the limits of the associated bank card. Unlike physical cards, this service also uses NFC technology but includes biometric authentication, such as Face ID or Touch ID, to secure each transaction.

So, have you switched to contactless yet, or are you still hesitating a bit?

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