Contactless Card PIN Limit Increase for COVID-19
With physical distancing and contactless payments being top of mind, card networks are increasing CVM (card verification method) limits for contactless card payments. To help combat COVID-19 and help sellers promote physical distancing, Square is increasing the limit on contactless card transactions in step with these changes. These updates will be delivered through firmware updates and apply to the Square Reader, Square Terminal, Square Register, and Square Stand for Contactless and Chip.
Credit card networks including Visa, Mastercard, and American Express have announced their support for raising contactless card payment limits from AU$100 to AU$200 across Australia.
What’s changing for Square sellers?
Square is increasing contactless card payment limits. Customers will be able to make contactless payments up to AU$200 before being prompted for a PIN with Visa, Mastercard, and American Express branded cards or mobile wallets.
When will this change be in place?
Contactless limit increases will be included as part of regular firmware updates, which are being rolled out across Square hardware. There’s no action sellers need to take to enable these new limits.
What payment methods does this apply to?
The new AU$200 limit applies to Visa, Mastercard, and American Express branded contactless cards and mobile wallets.