Visa increases payment limit on cards with PIN code

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© Dmitry Feoktistov/TASS

MOSCOW, April 13. / TASS /. The Visa international payment system has increases the maximum purchase value possible without entering a PIN code from 1,000 rubles ($15.54) to 3000 rubles ($46.63), starting on April 13, the payment system said in a statement on Saturday.

Starting on April 13, banks that participate in the Visa payment system in Russia may not request a PIN-code to confirm transactions on Visa contactless cards for an amount not exceeding 3,000 rubles.

According to the press service, this initiative takes into account the current stage of development of the payment market and Russians’ emerging new payment habits. In the autumn of 2018, Visa reported that Russia is in the top three countries – the leaders in the number of contactless payments that are made using both contactless cards and smartphones.

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