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Important changes to Visa contactless payments

To help protect cardholders against the risk of fraud, Visa have now introduced a Zero Floor Limit for all contactless transactions. Whilst this is undoubtedly good news for cardholders, it does mean that extra diligence is required by retailers and staff when taking card payments. By definition a floor Limit is the maximum sale amount a merchant can accept by card without needing to get authorisation from the card issuer. A ‘Zero Floor Limit’ simply means that every contactless card transaction will now have to be authorised by the card issuer when previously this was set at £30.

The main area to look out for is ensuring that you wait for authorisation before finishing the transaction. The ‘beep’ that you hear when a contactless card is tapped against the card reader does NOT mean that the payment has been authorised - you should always wait for the authorised message to display before finishing the transaction with the customer. By ensuring that your staff are aware and have been trained will mean you won’t be out of pocket if the payment is declined and the customer has already left the store.

A knock on effect of the authorisation could mean that transactions will take a few seconds longer than before, depending on how your card terminal is connected and talks to the acquirer. Our advice would be that it’s prudent to take this opportunity to review how your card terminal is connected and whether better options are available not just for the connection but also the type of card terminal you’re using.

As always, the team at acceptcards are on hand to assist with any questions or assistance you need.

Posted on Oct 20, 2017

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