Walletmor payment limit

I would post this question in the existing thread but…


Who determines contactless payment limits with the Walletmor? It’s not iCard (I set a 1000 euro limit per transaction). Is it individual stores / chains? Payment processors? Local law? Is it hard-coded in the terminals?

With one exception, all the stores in my area seem to decline payments over 50 euros.

Legislators don’t understand what a contactless payment is, so they currently limit those transactions to €45. Some countries raised it to €100 during the pandemic though.

Contactless payment - Wikipedia.

It doesn’t actually make any sense because contact credit payments also don’t require a pin, but they’re not limited. Even if bad actors were able to skim an exchange mid-transaction, they would only be able to do a replay attack for one or maybe a few transactions. The new secure element systems are very different from the old PAN magstripe systems, but people don’t seem to get that. The ignorance is real

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Uk is raising it to £100 end of October :slight_smile:

It seems arbitrarily set by the country


Okay thanks.

There are regional “boilerplate” limits which are part of a larger overall security template. The issuers (banks) typically just go with the template… but not always. Also professors can set additional limits based on their own requirements or based on specific merchant request.

That’s kind of why I was wondering, because the “bank” in this case is iCard, and they don’t set no limit. Well they do, but not 50 euros. So someone / something in the middle does.

But yeah, I saw articles stating Finnish banks adopted the 50-euro limit recently. So for them, that figures.

iCard is not actually a bank. They are a neobank which is licensing financial operating regulatory status from another bank… who knows which. I would not be surprised if they had no direct influence over things like limits… But you never know

This whole business is fabulously convoluted. I’m not stupid (not all the time anyway) and I’m really making an effort to wrap my head around who does what, but I still don’t get it :slight_smile:

Oh well. 50 euros it is then. It’s not a problem though: if it’s over the limit, I just ask the cashier to break it down into 50-euro chunks and I pay several times. It seems to work fine. It’s just inconvenient.

I think they do though: why else would they offer to set your own limits?

Best I ask them directly.

They’re not in the business of making it easy to understand. The more convoluted it is, the more opportunities the payment schemes have to extract the vig from another player.

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Not sure what you mean here but if you’re referring to the customer (you) being able to set a lower limit… that’s fine… what I mean is going above the ceiling limit (upper limit), which is called… confusingly… the floor limit in industry.

iCard lets you set a per-transaction, daily and weekly spending limits on a wearable. I’m assuming that’s what they allow - or rather, they let you instruct them limits to allow - and perhaps in countries without limits, that’s what gets enforced. But in Finland, 50 euros seems to takes precedence because someone blocks the payment before it even reaches iCard.

Or something to that effect.

Processors maybe?

I was wondering what Professors had to do with payments for a minute. :laughing:

So icard can set limits, the bank they license from can set limits, the processor can set limits, presumably the banking authorities in the country can set limits…

I don’t know if the store can set limits, but they appear to be the only people who can’t, maybe.

Yeah, but what about the Professors? :wink:

Remember to turn in your coursework or they will reduce your limit.

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Like I said, who does what is unclear. I’ll see what iCard replies. I suppose they’ll reply some bromide about my effective limits depending on the country I use the wearable in, or something equally uninformative.

I’ve never given card payment a second thought before getting exposed to some of the process by Amal, and now that I’m trying to understand, I find the whole construct uncomfortably opaque. I mean at the end of the day, these people handle your money. It’s not trivial.

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As expected:

The only useful bit of information here is that they don’t see any declined payments. Therefore, as I suspect, they’re blocked upstream.


Following iCard’s advice, I asked the owner of my local franchised supermarket yesterday (the “merchant”) whether they impose the 50-euro contactless spending limit. The guy was surprisingly knowledgeable about the payment system deployed in his store, and he immediately assured me with 100% certainty that they do NOT enforce any limit, and that they’ve actually tried to remove it because it frustrates customers.

So, it happens after the merchant and before iCard - at least in Finland.

So probably the processor then. Unless more parties are involved than I would like to imagine.

I guess. I wonder if they decided on the limit based on… stuff, or if it’s government-mandated.

I just don’t get the limit: what does it matter from a security standpoint if I physically violate a payment terminal with a piece of plastic or present it a wireless version of it if I have to enter a PIN? I’m much more confused by PIN-less payments: that sounds like an incredibly dumb idea.

Just ask a PIN for all payments and quit making a distinction between plasticky and wireless payments already…