To be honest, I’m not sure who is asking for the higher contactless limit. No-one using their phone/watch, for sure, and the Banks don’t seem to be asking for it either.
The motive for increasing the limit was political. Johnson and friends wanted to prove that the UK could make its own rules after Brexit.
This story is related to item price input into a system. I come across wrong pricing at grocery stores but someone pricing wrong that big can easily be caught with the first transaction buying Banana. As everyone said, nothing to do with Apple Pay.as the same lady could have paid with credit card and the out come would have been same.
In the US you have to confirm the amount twice before it processes, even if you were in a rush, there's no way to not notice it. With that being said, Why is this even news? It was a mistake on the store system and just because she used Apple Pay, it automatically becomes news?
I'd like to see more detail in the explanation that AI offered. It's mentioned that it's because of the 2FA innate nature of Apple Pay. But is that because it's tied to an Apple account (G-S) or would the no limit not apply to an AP transaction tied to you bank card that's not the G-S Apple Card.
The G-S Apple Card doesn't exist outside of the US. This will have been with another bank's card.
This isn’t really the full story as some stores still force the £limit on Apple Pay as well. Obviously this will change with self-serve, but the £ cap is ridiculous and prevents contactless being useful for anything but minuscule shops.
It's more complicated than that.
Apple Pay uses the same tap technology as credit/debit cards.
Tapping a credit/debit card has no inherent security, and guess who gets stuck with the charge-back if it's a stolen card? The totally innocent store!
Yes, there is insurance, but it's usually limited.
The “solution” to this is definitely NOT to put an upper limit on tap to pay transactions, as the UK apparently has done.
That isn’t what’s going on in the UK anyway. There’s a cap on pure contactless, ie transactions which just require a card to be tapped and no other authorisation. With just a card, beyond that limit requires chip & pin use. It’s an anti-fraud measure, which I think originated EU wide (in the UK it started at £30.)
Apple Pay, and Google Pay, are not subject to that legal limit as they already have a secondary authorisation: fingerprint, face, etc to approve it (though some stores’ equipment have never been updated to support the distinction between contactless with card and Apple/Google pay.)
To be honest, I’m not sure who is asking for the higher contactless limit. No-one using their phone/watch, for sure, and the Banks don’t seem to be asking for it either.
No one is asking for it, but with the Brexit fallout now being realised (some sectors seeing a 90% drop in trade) the government was desperately looking for a win:
“See? Now we’ve left the EU, a stolen bank card can cost you £100 per transaction instead of £30.”
With any luck, the banks will allow you to keep the £30 limit.
Comments
Apple Pay uses the same tap technology as credit/debit cards.
Tapping a credit/debit card has no inherent security, and guess who gets stuck with the charge-back if it's a stolen card? The totally innocent store!
Yes, there is insurance, but it's usually limited.
“See? Now we’ve left the EU, a stolen bank card can cost you £100 per transaction instead of £30.”
With any luck, the banks will allow you to keep the £30 limit.