New Contactless Payment Limit Set to 1500 Lira
The Banking Regulation and Supervision Agency (BDDK) has recently sent a letter to banks regarding an update on contactless payment limits. As of July 1, 2022, the password-free transaction limit for contactless payments was increased to 750 lira. This increase came after two years of the previous limit being in place.
Now, in another update, the BDDK has announced that the transaction limit without a password will be further increased to 1500 lira as of July 1, 2024. This change aims to provide more convenience and flexibility to consumers when making contactless payments.
With the continuous advancements in technology and the increasing popularity of contactless payments, these updates reflect the efforts to adapt to the changing needs of consumers. As contactless payments become more common in our daily lives, it is important for regulations to evolve accordingly to ensure a seamless and secure payment experience for everyone involved.
