Fiserv, a leading global provider of payments and financial services technology solutions, announced that it will temporarily increase PINless transaction approval limits from $50 to $100 for eligible transactions on its STAR debit payments network. This change, implemented in response to COVID-19, will increase the number of transactions that can be completed without the need to enter a PIN on a physical device at checkout. The change takes effect on May 1, 2020.
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“In a changed world of social distancing, touch-free alternatives to keying a PIN on a POS device are being sought by both consumers and merchants”
STAR, along with the Accel debit payments network from Fiserv, is the first debit payments network in the U.S. to announce increased limits for PINless transactions. In an environment of social distancing, low and no-touch payment alternatives and speed at checkout are critical to consumers and merchants, helping address concerns about interactions at the physical point of sale (POS).
“In a changed world of social distancing, touch-free alternatives to keying a PIN on a POS device are being sought by both consumers and merchants,” said Carol Specogna, vice president of product strategy for Card Services at Fiserv. “Raising approval limits for PINless transactions will speed the checkout process for the purchaser and everyone standing in line.”
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Participating issuers are required to support this transaction for any dollar amount up to and including $100. Participating acquirers and their merchants may optionally support the increase in transaction limit up to and including $100.
All other STAR guidelines and rules, including transaction requirements, interchange and fees and exception processing, remain unchanged. PINless POS transactions are limited to POS transactions initiated at a physical device, and are only permitted in a face-to-face, card-present environment.
Some STAR-enabled merchant categories are excluded from the new limits. Excluded categories include direct marketing merchants involved in the sale of travel-related services; those involved in the business of exchanging currency, cashing checks, selling monetary instruments and wiring funds; automated fuel dispensers; and gambling transactions.
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