Fiserv raises PINless transaction limits at Accel to $100

Fiserv Inc. is temporarily doubling the limit for eligible transactions without a PIN code on its Accel debit payments network to $100 from $50, amid the COVID-19 outbreak. 

Fiserv said Accel, along with its STAR debit payments network, are the first debit payments networks in the U.S. to announce increased limits for debit payments, according to a press release.

“In the current environment, consumers and merchants are looking for ways they can complete transactions safely and quickly,” Daneen Cady, vice president of Accel for Card Services at Fiserv, said in the release. “Raising approval limits for PINless transactions allows people to avoid contact with a PIN device and check out more quickly.”

PINless POS transactions are limited to POS transactions initiated at a physical device and are only allowed at a card-present transaction, which are in-person purchases.

Participating issuers are required to support this transaction for any amount up to $100, while participating acquirers and merchants may optionally support the increase. 

Certain Accel-enabled merchant categories are excluded from the expanded limits, including direct-marketing merchants selling travel-related services, merchants involved in currency exchange, selling monetary instruments and wiring funds, automated fuel dispensers and gambling transactions.

Topics: Technology Providers, Contactless, Transaction Processing, Mobile Payments, Mobile Banking, POS, Retail Companies: fiserv

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