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IDEX Comment] Contactless spending limit increased

March 2020 by David Orme, Senior Vice President, at IDEX Biometrics

Following the news that contactless spending limit increased in response to coronavirus, find below a comment from David Orme, Senior Vice President, at IDEX Biometrics, on how biometric authentication is key to contactless card fraud prevention.

“The rise of the current contactless spending limit is an essential step to stem the transmission of Coronavirus via POS PIN pads, as concerns over contaminated surfaces spread across the general public. Once the limit is raised next month it is unlikely to be lowered again once we come out the other side of the pandemic, putting additional pressure on banks to put stricter security measures in place to protect people when using contactless payment methods.

“Biometric authentication, such as payment cards with an integrated fingerprint recognition sensor, is just one solution being increasingly recognised as holding the key to contactless card fraud prevention. Linking individuals directly to the card by using their fingerprint, users can be safe in the knowledge that they are the only person that can use the card, as ultimately there is nothing more secure, or personal, than a fingerprint. It will be methods such as these which enable the contactless spending limit to continue to rise, whilst ensuring security needs are met.”

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