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New rule: Limits on such operations via POS terminal made 100 manats

03.07.2020,17:46


July 3, Fineko/abc.az. The Association of Banks of Azerbaijan has discussed the organization of joint activity relating to an increase of the limit of 100 manats for contactless transactions carried out in non-cash form without entering a PIN code through a POS terminal, and expansion of operations for the introduction of contactless payments and tokens.

ABC.AZ was informed at ABA that the matter was covered at the next online meeting of the Expert Group on payment systems and digital banking.

The expert group’s members also raised the issue of intensive informing of card users to prevent fraudulent transactions with payment cards.

At present, the limit for contactless transactions carried out in a non-cash form without entering a PIN code through a POS terminal is 50 manats.