BROOKFIELD, Wis.–Fiserv has announced it will temporarily increase PINless transaction approval limits from $50 to $100 for eligible transactions on several of its networks, including the STAR debit payments network and the Accel debit payments network.
“This change, implemented in response to COVID-19, will increase the number of transactions that can be completed without the need to enter a PIN on a physical device at checkout,” the company said.
Fiserv said STAR and Accel are the first debit payments network in the U.S. to announce increased limits for PINless transactions.
“In an environment of social distancing, low and no-touch payment alternatives and speed at checkout are critical to consumers and merchants, helping address concerns about interactions at the physical point of sale,” Fiserv said.
‘Changed World’
“In a changed world of social distancing, touch-free alternatives to keying a PIN on a POS device are being sought by both consumers and merchants,” added Carol Specogna, vice president of product strategy for Card Services at Fiserv. “Raising approval limits for PINless transactions will speed the checkout process for the purchaser and everyone standing in line.”
According to Fiserv, participating issuers are required to support this transaction for any dollar amount up to and including $100. Participating acquirers and their merchants may optionally support the increase in transaction limit up to and including $100.
All other guidelines and rules, including transaction requirements, interchange and fees and exception processing, remain unchanged. PINless POS transactions are limited to POS transactions initiated at a physical device, and are only permitted in a face-to-face, card-present environment.
Some Exclusions
Some merchant categories are excluded from the new limits, Fiserv said, including direct marketing merchants involved in the sale of travel-related services; those involved in the business of exchanging currency, cashing checks, selling monetary instruments and wiring funds; automated fuel dispensers; and gambling transactions.