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Majority of Europeans would be happy with contactless transaction limits of up to €150 • NFCW

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By Tom Phillips[2] • • Updated • nfcw.com[3]

TRENDS: Research shows that consumers and retailers would welcome greater use of electronic payments
The majority of European consumers would feel comfortable with contactless transaction limits of up to €150 (US$169), three times the current European Union limit of €50 (US$56), according to Payments Europe[4] research.

A majority of consumers would also “feel comfortable paying contactless for amounts higher than €150 per transaction” and, on average, “whilst the exact per-transaction amount varies across countries, consumers indicate that they feel safe and comfortable paying contactless up to €187 (US$211),” the researchers say.

Two in three European consumers say they now use contactless payments more often than they did before the start of the Covid-19 pandemic and now prefer to pay using this method, according to the research.

The findings show that in all contactless card payments accounted for a quarter of in-store transactions across Europe in the past 12 months (25%) and that “Europeans have increasingly moved to using digital methods of payments, with eight in 10 in-store transactions being electronic in 2021”.

“Interestingly, over two in three users (67% of consumers, 70% of merchants) want this trend to evolve even further and noted

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