Soon you can pay Rs 5,000 without a PIN through contactless payment

The Reserve Bank of India (RBI) has increased the single transaction limit on contactless payments without PIN from Rs 2,000 to Rs 5,000. The new limit will come in force on January 1, 2021. This is likely to offer relief for many cardholders who were unable to make payment above Rs 2,000 using credit or debit cards through Near Field Communication (NFC) which does not requires PIN.
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