According to a letter the Banking Regulation and Supervision Agency (BRSA) sent to banks, the PIN-free transaction limit for contactless payments, which was raised to 750 liras on 1 July 2022, has been updated to 1500 TL after 2 years. The PIN-free transaction limit will apply from 1 July 2024.
It would not be wrong to say that contactless payments, which became widespread during the pandemic, have started to be preferred over contact payments in our daily lives. Contactless payments have also become common because they are secure, fast and easy, and because they help prevent possible fraud cases such as card details being captured.
Let's take a look at the history of the contactless transaction limit for card payments:
- From 18 March 2020, from 120 TL to 250 TL,
- From 7 May 2021, from 250 TL to 350 TL,
- From 1 February 2022, from 350 TL to 500 TL,
- From 1 July 2022, it had been raised from 500 TL to 750 TL.
With inflation in particular driving up shopping amounts, the need to raise contactless transaction limits has emerged. Accordingly, the contactless transaction limit for card payments has been reset to 1500 TL, effective 1 July 2024. This means all purchases below 1500 TL can be paid for securely and contactlessly (with a card or through a mobile app) without entering a PIN.
Users with Android phones can make NFC (Near Field Communication) contactless payments through a mobile app that has a payment infrastructure.
Under the current structure, entering the card PIN is mandatory for purchases above 750 TL, whereas under the new structure, entering the card PIN will be mandatory for purchases above 1500 TL.
To underline once again, the PIN-free transaction limit will apply from 1 July 2024. For now, it is still 750 TL. :)
