Contactless payment popularity on rise

Finns pay most of their purchases with bank cards or by using contactless payment, reported national broadcaster Yle.

The popularity of contactless payment is on the rise, and according to Bank of Finland, 35 percent of all bank card payments were through contactless payment.

According to payment processing company Nets, up to 55% of all card payments are currently in the form of contactless payment.

According to Sirpa Nordlund, Nets Finland country manager, the increased enthusiasm in the use of contactless payment was behind the increase of the maximum limit.

The use of the payment has, however, raised safety concern in the case a bank card falls in the wrong hands.

Card holder and card details are rarely verified in contactless payment. Therefore, it is advisable to set safety limit for the use of card.

"If you know that you are not going to withdraw more than 200 euros a day ,then you should not keep your withdrawal limit a thousand euros," said Sirpa Rantapelkonen, service manager at OP in South Häme.

The maximum limit for contactless payment was raised from 25 euros to 50 euros in the spring.