UK-based neobank Revolut has implemented a Strong Customer Authentication (SCA) system that lets customers use their mobile banking app to authenticate their contactless card as they get close to reaching the new contactless transaction limit, avoiding the risk of having their card declined when they next attempt to make an in-store purchase.
“From 14 September, new regulations come into effect across the European Economic Area, limiting the number of contactless card payments you can make before needing to verify the payment,” Revolut has explained to customers[1].
“In short, you’ll be able to make up to €150 (or other currency equivalent) of contactless payments before you’re asked to either pay with Chip & PIN, or log into the app to verify the payment.”
“Here’s what will happen when you approach the contactless limit,” Revolut says.
“We’ll send a notification to your phone, letting you know that you’re approaching the contactless payments limit (if you’re a business customer, you’ll get an email).
“At this point, you can either make your next payment via Chip & PIN, or tap on the notification and reset your limit from the Revolut app (you will need to enter your PIN, or use fingerprint/face ID).
“You’ll then be able to make a further €150 (or other currency equivalent) of contactless payments until the next required ‘limit reset’.
“If you reach the limit without resetting, we’ll have to decline that payment, but we’ll send you another notification asking you to reset the contactless limit.”
“There are a couple of exceptions to these new rules,” Revolut adds.
“These include: Apple Pay/Google Pay — these won’t count towards your contactless payment limit, so try and use this on contactless
