From mid-August 2021, PostFinance will become the first Swiss bank to raise the limit for contactless payments without PIN entry from 80 to 100 francs for its own debit cards. In doing so, it is responding to demand from many of its customers and making contactless payment at payment terminals even easier. Those who do not want to use the contactless function on the PostFinance Card can deactivate it at any time in the PostFinance App, in e-finance or at a Postomat.
Contactless payments without PIN: limit raised to 100 francs for the PostFinance Card
The coronavirus pandemic has increased the need for contactless payment in Switzerland. 70% of all payments carried out with the PostFinance Card at payment terminals are now contactless. Until now, it has been possible to make contactless payments of up to 80 francs without entering a PIN. As surveys and feedback have shown, the majority of customers would like the option to pay for amounts of up to 100 francs without entering their PIN. PostFinance is responding to this demand and rolling out the new limit on all payment terminals in Switzerland over the course of approximately a week, starting from 16 August 2021. This change applies exclusively to the PostFinance Card. The existing limit of 80 francs still applies to prepaid and credit cards from PostFinance.
No PIN entry for mobile payments
Contactless payment without PIN entry at payment terminals is also available with PostFinance’s mobile payment solutions. PostFinance customers can store the PostFinance Card digitally on their Android smartphone or link it to the TWINT payment app. With these payment methods, PIN entry is never required at the terminal, and customers do not have to hand over their mobile device.