50 euros – contactless transaction without PIN code

The Greek Banking Association announced today that there is a € 50 limit for contactless bank card transactions without a PIN.

The respective announcement states: “From 23 March 2021, member banks ΕΕΤ, in the context of their commitment to provide ongoing assistance in reducing exposure to coronavirus (COVID-19) on public health, extend the validity of the decree. From July 1, 2021 onwards, it will be possible to pay for purchases using a contactless method and without using a PIN-code in the amount of up to 50 euros. “

“Since March 30, 2020, when this measure was taken, the consumer response has been overwhelming. People prefer to minimize the physical contact of a bank card with the keyboard of a payment terminal (POS), ”experts said.

“Thus, all transactions, regardless of the amount, can be carried out unchanged without transferring the payment card to the employee of the store where they take place. For transactions over € 50, it will still be required and the cardholder will have to enter their PIN into POS terminal“, – reports EET.

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