Maybank officially announced yesterday that it will be updating its contactless transaction process for all Maybank cards used with Google Pay. Starting 27 January, the universal bank will apply a maximum limit of RM2,500 per Google Pay transaction. The bank will require users to use their physical cards for any transactions that exceed this amount.
Simultaneously, Maybank no longer requires users to enter their PIN for purchases over RM250. The company reasoned that this change will help provide its users a smoother payment experience.
For credit cards, the bank further clarified that users can continue to perform multiple transactions up to their card’s available limit. Each contactless transaction, however, must not exceed RM2,500.
The bank caps each contactless transaction for debit cards at RM2,500. Additionally, it will decline any transaction that exceeds the daily purchase limit the user has set. Maybank noted that users can choose to lower their Google Pay transaction limit to below RM2,500 by adjusting their debit card purchase limit via the M2U app.
Needless to say, as more and more people are adopting Google Pay or Samsung Pay services for their transactions, more banks are expanding the accessibility of their digital wallets to keep up. The most recent bank to support the aforementioned apps is Bank Islam.
(Source: Maybank [official notice])
