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Economy
27 March 2020, 19:20

Belarusian banks encouraged to raise limits on PINless contactless card transactions

Photo courtesy of onlinekassa.club
Photo courtesy of onlinekassa.club

MINSK, 27 March (BelTA) – The central bank would like Belarusian commercial banks to consider raising the limit on sums that does not require card holders to enter PIN codes while paying for goods or services with plastic cards with contactless functionality, BelTA has learned.

The recommendation has been prompted by the unfavorable epidemiological situation and the need to minimize contacts between people. The banks are encouraged to bear in mind the average purchase sum in retail outlets, the need to reduce the time customers spend interacting with bank equipment or cash registers, and the need to reduce the time people spend in retail space.

The central bank is in favor of commercial banks adopting a risk-oriented approach. The central bank believes it is necessary to take into account the location of the retail outlet, the number of customers the outlet serves, the product choice it offers, and the availability of CCTV cameras in retail space.

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