Ant Group increases transaction limits
The Paypers
MARCH 11, 2024
Ant Group , the fintech affiliate of Alibaba Group Holding, has increased the mobile payment transaction limits for overseas visitors to Alipay and international e-wallets in China.
Transaction Limits Related Topics 
Ant Group raises transaction limits for travelers on e-wallet services inline with new PBOC policy
Finextra
MARCH 8, 2024
In response to China's new policies to facilitate international visits, Ant Group is raising single-transaction limit for international travellers using its cross-border payment services from USD 1000 to USD 5000; and annual cumulative transaction limit up from USD 10,000 to USD 50,000.
Mastercard increases European contactless transaction limits
Payments Source
MARCH 25, 2020
Mastercard is part of an expanding trend toward easing restrictions to entice consumers to choose contactless payments over cash and plastic during the coronavirus.
EBA urges Europe to increase contactless transaction limit
The Paypers
MARCH 27, 2020
The European Banking Authority (EBA) has issued a statement urging the European payments industry to increase contactless transaction limits to EUR 50 (USD 54.97).
Lloyds, Halifax, and Bank of Scotland to let customers set their own transaction limit
The Paypers
SEPTEMBER 24, 2021
Lloyds Bank , Halifax , and Bank of Scotland have announced they will allow customers to set their own contactless card limits when the new GBP 100 transaction limit starts in October 2021.
Amex increases contactless transaction limits in 26 more countries
Payments Source
JUNE 2, 2020
American Express has added 26 Caribbean nations to the list of countries where it’s raised the ceiling on contactless transactions that may be conducted without PINs, to reduce consumers’ exposure to touching PIN pads.
UK Increases Contactless Transaction Limit to £45
PYMNTS
MARCH 23, 2020
would raise the contactless pay limit from £15 ($17.43) to £45 ($52.29) in response to the coronavirus , which has sent waves of disruption through the world’s economies as people are encouraged to stop going out, and sectors of the public sphere have to close down in an attempt to stave off the spread of the virus.
Same Day ACH payments transaction limit to be increased to USD 1 mln
The Paypers
APRIL 6, 2021
Nacha has announced that the Same Day ACH payments transaction limit will be increased to USD 1 million.
Same Day ACH 
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Upcoming Shared Responsibility Framework Will Protect Minor’s Bank Accounts
Fintech News
NOVEMBER 12, 2024
In joint accounts, parents retain full control over account operations, while sole-name accounts for minors have stricter safeguards, such as lower daily transaction limits of S$50 to S$100, which parents can adjust. Such accounts aim to instill financial management skills in children while providing a controlled environment.
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Zimpler and Swish Partnership Boosts Merchant Payment Efficiency and Growth
Fintech Finance
JULY 3, 2024
Key Benefits: Optimized payment flows: Perfectly matching Zimpler’s A2A solution for larger transactions with Swish’s efficiency for smaller payments, ensuring smooth and reliable payments for fast-moving industries. Market Growth: Enhancing the user experience to help businesses expand and thrive in the Swedish market.
Cartes Bancaires begins rollout of new contactless payment card limit
NFCW
JUNE 27, 2024
To use the service, the merchant enters the transaction amount in the usual way and the customer then taps their contactless card to the merchant’s payment terminal.
MAS Reiterates Robust Controls on Cross-Border Payments to Combat Scams
Fintech News
AUGUST 7, 2024
Key among these measures are a default transaction notification threshold of S$100 or lower and a daily transaction limit of no more than S$1,000. Gan addressed concerns in parliament about the risks associated with cross-border instant money transfers, particularly for vulnerable groups such as the elderly.
America First Credit Union Builds Better Member Experiences with New Tech from Diebold Nixdorf
Fintech Finance
OCTOBER 11, 2024
.” The credit union worked with Diebold Nixdorf to implement: Vynamic ® Transaction Middleware to replace their legacy switch systems, which will help the credit union offer faster and more customizable transactions, as well as the ability to update existing services quickly in the future.
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Coronavirus-driven loosening of contactless payment limits boosts volume for Barclays
Payments Source
APRIL 28, 2020
Barclays has experienced an incremental £264 million (about $330 million) in contactless spend in the month since it raised its per-transaction limit in response to the coronavirus pandemic, which has created an aversion to cash and contact payments.
PSR confirms APP scam protection updates and consults on high-value fraud cap
Neopay
SEPTEMBER 11, 2024
The review highlighted the complexity of these frauds, noting that many large-scale scams were made up of multiple smaller transactions, which reduces the effectiveness of transaction limits as a protective measure. This issue is key in demonstrating why stronger protections beyond transaction limits are necessary.
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Wise obtains Type 1 licence in Japan
The Paypers
MARCH 13, 2024
Global technology company Wise has obtained a Type 1 licence in Japan to support higher transaction limits.
Using Venmo for Business: Everything You Need to Know
Payment Savvy
JUNE 7, 2023
Venmo for Business Fees & Transaction Limits If you’re considering using Venmo for your small business, you must be aware of the fees and transaction limits associated with Venmo Business Accounts. As for the fees, these will differ depending on the type of transaction. Only available in the US.
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YouTrip Quadruples Wallet Size to S$20K, Spending Limit Now S$100K
Fintech News
JANUARY 2, 2024
Moreover, a new transaction limit of S$1,000 for YouTrip Send has been set, adding an extra layer of security against unauthorised peer-to-peer transfers. Further securing user accounts, a 12-hour cooling-off period is now in place for new logins, aiming to prevent unauthorised access and changes to personal information.
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Santander allows UK customers to set lower contactless limits
The Paypers
DECEMBER 10, 2021
UK-based Santander Bank has announced that its customers can now set their own contactless transaction limit lower than the maximum of GBP 100 introduced by the UK government.
The Clearing House raises real-time payment threshold to counter rival networks
Payments Source
JANUARY 23, 2020
In a move to increase the attractiveness of its Real-Time Payment (RTP) network, The Clearing House is raising the transactional limit for single payments to $100,000 starting February 1, 2020.
Payfinia Receives $4.5 Million from Star One Credit Union to Launch CUSO
Finovate
NOVEMBER 14, 2024
Payfinia used IPX’s fraud prevention capabilities to tailor user controls and permit higher transaction limits, allowing the funding to be sent in $500,000 increments to its account at U.S. Each transaction settled in less than five seconds. million in Seed funding. ” said Star One CEO Gary Rodrigues.
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Covid-era contactless payment limit rises drove consumer usage but not adoption, research finds
NFCW
JANUARY 16, 2024
REMIT: As part of its work the Swiss National Bank carries out research on central bank-related topics A new study from Swiss National Bank has revealed that the increases in contactless transaction limits that were rushed through in many countries during the Covid pandemic drove an increase in the use of contactless payments but led to only a minor (..)
RBI to Raise UPI Limit and Introduce New Fintech Repository for India
Fintech News
DECEMBER 10, 2023
The Reserve Bank of India (RBI) has announced a series of updates, including an increase in the transaction limit for the Unified Payments Interface (UPI), particularly for payments related to medical and educational services.
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Apple Pay changed the rules in the U.K., but is it enough to win?
Payments Source
MAY 23, 2017
Apple Pay's recent move to waive the £30 contactless transaction limit in the U.K. removes one of the key restraints it faced when competing with credit and debit cards at the checkout. But at this point in the mobile wallet adoption cycle, does this change really matter to consumers and merchants?
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APAC’s Digital Banking Growth Sparks a Surge in Fraud Cases
Fintech News
OCTOBER 22, 2024
Respondents also said they had adjusted their transaction limits to reduce the impact of fraud losses (53%), enhanced security on their banking apps (40%), undertaken security audits of their mobile banking infrastructure (32%), and partnered with network operators or device makers to enhance security (26%).
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Over 200 DBS Customers Lose S$446K This Year to Sophisticated Phishing Scams
Fintech News
JANUARY 14, 2024
The police and DBS jointly recommend the installation of the ScamShield App to safeguard against scam calls and SMSes, alongside enabling two-factor authentication for bank accounts and setting transaction limits. They also remind the public that bank employees will never request internet banking details or OTPs.
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What Do You Need To Open a Business Bank Account?
EBizCharge
NOVEMBER 12, 2024
Access to business-specific services: Many business accounts offer merchant services for processing credit card payments, invoicing tools, and integrations with accounting software.
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The Acceleration Of Payment Rails, Old And New
PYMNTS
JANUARY 28, 2020
.’s newest real-time payment rails, the RTP network, is looking to expand the opportunity for payers to use the faster payment rail by increasing transaction limits. Announced last week, the higher transaction thresholds raise the limit from $25,000 to $100,000 starting Feb.
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American Express and Emburse Bring Integrated Expense Management Solution to Commercial Customers
Fintech Finance
MAY 21, 2024
Added Security & Transparency: American Express virtual Cards help businesses maintain control over budgets and securely manage recurring expenses and one-off vendor payments through unique tokens that have pre-set parameters for each Card, including budget, expiration, and per-transaction limits.
What You Need to Know about Singapore’s Upcoming Shared Responsibility Framework
Fintech News
OCTOBER 27, 2024
FIs and PSPs must also send real-time alerts for high-risk actions, such as new device logins, contact detail changes, transaction limit increases, and the addition of new payees, allowing consumers to respond swiftly to suspicious activity.
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Sequoia Capital-Backed FamPay Raises $38M For Its Teenager-Focused Payments App
CB Insights
JUNE 17, 2021
Parents can set transaction limits. The round drew participation from Sequoia Capital India, General Catalyst, Elevation Capital, and Y Combinator, among others. How’s the company performing? Bangalore-based FamPay provides a mobile payments card and app for teenagers under parental supervision.
Square Brings Offline Payments to All Hardware Devices, Around the Globe
Fintech Finance
APRIL 24, 2024
Transaction limits are fully customizable, putting sellers in control. Offline transactions are processed seamlessly; once a seller is back online, Square automatically uploads and processes all offline sales.
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Hackers Steal Alipay Customers’ Money Via Stolen Apple IDs
PYMNTS
OCTOBER 11, 2018
In a post on its Toutiao social media account, Reuters reported it said users who linked their accounts via Apple IDs should lower their transaction limits. Reuters , citing Ant Financial , the payment affiliate of Alibaba, reported the Chinese company said the issue hasn’t been resolved even though it reached out to Apple already.
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How FedNow will Disrupt Vendor Payments
Nanonets
SEPTEMBER 1, 2023
Irreversible Transactions : FedNow transactions are irreversible; this requires high accuracy and a low margin of error. Transaction Limit: ACH transfers' default transaction limit is $100,000. Financial institutions can increase this limit to $500,000.
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Today In Data: New Faster Payments Normal
PYMNTS
OCTOBER 3, 2018
128,000: Hong Kong Monetary Authority’s Faster Payment System’s daily transaction limit. . $10 million: Amount Google search competitor Duckduckgo raised in its most recent funding round. 41 percent: Share of firms that do not report they have been the victims of cybercrime.
Today In Data: Matching The Right Solution To The Right Problem
PYMNTS
AUGUST 15, 2018
25,000: The transaction limit size for same-day ACH. And for the operators of credit unions nationwide, it might mean teaming up to take on common concerns. 870 million: Number of active users Alipay boasts. 13,000: The number of financial institutions in the U.S. percent: Increase in credit union loan portfolios by May 2018.
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How a PIN Works on Credit Cards and Debit Cards
Clearly Payments
OCTOBER 22, 2024
In most contactless payments, a PIN is not required for lower-value transactions, typically up to $100–$250 depending on the region. However, for higher-value purchases or when a customer reaches a cumulative transaction limit, the system may prompt for a PIN or card insertion for security reasons.
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Hackers Steal Discount Vouchers From Pinduoduo
PYMNTS
JANUARY 20, 2019
Instead, the companies were forced to tell users with Apple IDs to lower the transaction limits on their accounts to prevent fraud. Ant Financial, the payment affiliate of Alibaba and the company behind Alipay, expressed frustration at the time because the issue wasn’t resolved even after the company reached out to Apple.
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TCH Ups Limit For General Transactions To $100K
PYMNTS
JANUARY 23, 2020
“Businesses and consumers often want to send higher value payments and the $100,000 limit helps to address their needs,” he added. The RTP Business Committee — comprised of representatives from community banks, credit unions and TCH member banks — green-lighted the new transaction limit.
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52 Singapore's UOB to lift NFC mobile payment limit by 2017
The Paypers
MAY 31, 2016
(The Paypers) Singapore’s United Overseas Bank (UOB) intents to lift the SGD 100 (USD 73) contactless transaction limit for NFC mobile payments at all terminals by the end of 2017.
How a High Risk Merchant Account Works
Clearly Payments
OCTOBER 25, 2024
Stricter Terms : High-risk businesses may face stricter terms, such as monthly transaction limits, extended payout periods (e.g., This is called a rolling reserve, and it is released after a period of time if no chargebacks or disputes occur. payments every two weeks instead of daily), and mandatory fraud detection systems.
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13 Questions to Ask When Evaluating a Merchant Service Provider
EBizCharge
NOVEMBER 12, 2024
Some merchant service providers set a limit on the transaction amount or total monthly volume your business can process. Exceeding this cap may result in additional fees or a hold on funds, which can impact cash flow.
Who Has The Balance Of Power In B2B Payments?
PYMNTS
AUGUST 14, 2018
Transaction Limit. The per-transaction limit of $25,000 for Same Day ACH, which — in part, and given its newness — was implemented from a fraud and security standpoint. Elmore said that that limit stands as a roadblock for middle market adoption. We are still not getting high adoption” there, he said.
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ACH Payment vs Wire Transfer: What’s the Difference and Which Payment Method Should You Use?
Stax
JUNE 27, 2024
Global ACH is available but only for bank-to-bank networks Wire transfers have no geographic limitations. Transaction limits and restrictions Various modes of payment have different limits and restrictions on the amount of money you can send per transaction and the number of transactions you can carry out per day.
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