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Tech constraints hobble ASB contactless limit raise

Source: ASB

The New Zealand Payments Industry today announced that contactless payments can now be made up to $200 without the need for a PIN.

This is in response to New Zealand being at alert level 4 of the COVID-19 response. The $200 limit may decrease to the current $80 when New Zealand moves to lower levels.

ASB is supportive of the industry initiative however due to technology constraints, ASB Visa Debit and ASB Visa Credit cards currently held by customers will continue to have an $80 limit before a PIN is requested.

”ASB is sorry that our current ASB Visa Credit and Debit cards do not immediately support the contactless payment increase to $200. ASB introduced contactless cards early, and at the time, responded to concerns about their security by ensuring the cards were hard-coded to ask for a PIN for all transactions above $80,”says Simon Tong, ASB executive general manager Digital, Data and Brand.

“Since identifying the need to change card limits, we have been working hard to find a solution for our existing cards but given the complexity this is likely to take several weeks. We appreciate some of our customers may want to take advantage of the $200 contactless limit sooner, so they can request a new card from today which we will happily re-issue at no cost.”

“The limit of up to $80 without a PIN relates to our cards only, and all our customers with Mobile Pay options such as Apple, Google, Garmin and FitBit Pay can use these immediately to make payments up to $200 without a PIN.”
“Customers who set up a new Mobile Payment method on their device will receive a one-off $20 refund on any purchase made at supermarkets around the country, after using their mobile device to pay for the first time,” says Tong.

The easiest and fastest way to apply for a new card is through FastNet Classic or online via www.asb.co.nz/bank-accounts/visa-debit.html

Customers who do not have online access can phone our contact centre. Replacement cards should arrive within about five business days, and existing cards will continue to work until the new card is received.

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