Common use of Transaction Limit Clause in Contracts

Transaction Limit. 18.4.1. The transaction limits for use of Contactless Payments are established by the Card Organisa- tions and are subject to change without notice at any time. Currently prevailing transaction limits can be found in the Merchant Instructions at ▇▇▇▇.▇▇/▇▇▇▇▇▇▇▇. 18.4.2. Cardholder Authentications are not required on completion of Contactless Payments, unless the transaction amount exceeds the applicable trans- action limit, or if the payment terminal prompts Cardholder Authentication. 18.4.3. Card Payments that exceed the prevailing trans- action limits must be completed by performing Cardholder Authentication by means of PIN entry. 18.4.4. Transactions completed with another approved payment device, e.g. a smartphone, and which exceed the prevailing transaction limits, must be completed by Authenticating the Cardholder using the security precautions associated with the given payment device. When a smartphone is used as a payment device, the Cardholder is verified through the entry of a password on their smartphone. The instructions appearing on the payment terminal must be followed at all times.

Transaction Limit. 18.4.1. The transaction limits for use of Contactless Payments are established by the Card Organisa- tions Organisations and are subject to change without notice at any time. Currently Cur- rently prevailing transaction limits can be found in the Merchant Instructions at ▇▇▇.▇▇▇▇.▇▇/▇▇▇▇▇▇▇▇. 18.4.2. Cardholder Authentications are not required on completion of Contactless Payments, unless the transaction amount exceeds the applicable trans- action transaction limit, or if the payment terminal prompts Cardholder Authentication. 18.4.3. Card Payments that exceed the prevailing trans- action transaction limits must be completed by performing Cardholder Authentication by means of PIN entry. 18.4.4. Transactions completed with another approved payment pay- ment device, e.g. a smartphone, and which exceed the prevailing transaction limits, must be completed by Authenticating the Cardholder using the security precautions associated with the given payment device. When a smartphone is used as a payment device, the Cardholder is verified through the entry of a password on their smartphone. The instructions appearing on the payment terminal must be followed at all times.