Contactless card: Is there a transaction limit? What happens if it is stolen, check details
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What is a contactless credit card?
Contactless credit cards are a quick and easy way to pay for everyday purchases. It is a secure, contactless chip technology that allows you to spend less time at the cash register and more time doing what is important to you. Here are some important FAQs according to the SBI Card website.
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Is there a limit for a contactless transaction amount?
Payment through the contactless mode is allowed for a Look Wave Go maximum of Rs 5,000 for a single transaction. For a contactless transaction, the PIN is not required. This limit is common for all customers and setting up individual limits is not possible. Any transaction amount more than Rs 5,000 has to be carried out through a contact transaction (Dip or Swipe) and entering the PIN. You can also choose to do a contact transaction (Dip or Swipe) with a PIN for transactions amounting below Rs 5,000.
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Is there any difference in the process for ATM and Internet transactions for this contactless credit card?
There is no difference in the transaction process for ATM or any Card not Present Transactions including Internet transactions. For ATM transactions you need to enter the PIN and for Internet transactions, you need to enter your 3D secure PIN or OTP.
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What happens if the contactless card is stolen: Can it be misused?
Immediately report the loss of your Credit Card to SBI Card to prevent any misuse. Please call our helpline or visit SBI Card App / Website to block your credit card. Safeguards are in place to mitigate misuse of lost or stolen cards by fraudster. The limit for Contactless Card transaction without entering the PIN is Rs 5,000, above which the transaction needs a PIN for authorization. Please note that your maximum liability on any given date will be limited to an available credit limit on your card.
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Where can I use my contactless credit card?
You can look for the Universal Contactless symbol on the POS machine at merchant outlets. Also please visit www.sbicard.com for details of merchants enabled for VISA payWave/RuPay Contactless payment acceptance.
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Contactless credit card: What are the benefits?
Contactless payment functionality powered by VISA payWave/RuPay Contactless is specially designed for you for speed, convenience and security. There’s no dipping, swiping, entering a PIN or fumbling for cash. You’re ready to go in just a few seconds. Ideal for places like fast-food joints, petrol stations, movie theatres etc.