Visa offers increase of limit of contactless payment transactions

The limit of transfers via contactless cards increased 2.5-fold from AZN 20 to AZN 50, Tamerlan Rustamov, Head of Financial Markets Infrastructure Supervision Division at the Financial Market Supervisory Authority (FIMSA), said at a press conference on presentation of ‘Visa Token Service’ system.

Cristina Doros, VISA Country Manager for Caucasus region, said that contactless transactions make 70-80% of total transactions via Visa cards: "A contactless transaction will eliminate problems facing people during small payments. Doing payment less than $1 in restaurants and cafes via plastic cards is difficult. During contactless payment, it will be easy. Contactless payment system for small amount of payments is favorable for people. Azerbaijan’s legislation will be considered during application of this system."

Doros noted that the limit in contactless transactions might be $40: "80% of transactions is about $40."