AIB ‘contactless’ payments pass 1m a month mark

The number of “contactless” payments made by AIB customers have passed the 1m a month mark — as the bank confirms the debit card spending limit will rise to €30 from the end of October.

Contactless cards allow banks customers to pay for goods simply by holding a card in front of a terminal, without the need to enter a PIN.

The cards use the same industry-standard secure encryption technology as chip and PIN. Users are asked for a PIN occasionally as a security feature to verify they are the genuine card holder.