Hello, I'm Aude VICAIRE and I'm delighted to meet you again in the Instant Payment.

Today you can pay by bank card in contactless, up to 50€. You have surely already experienced it, it is practical and it allows you to save time without having to insert your card in the terminal and to type your secret code.

In France, this feature has existed since 2005, and was capped at 30€ until 2020.

The percentage of contactless payments is 60% in France. Instituted as a barrier gesture during the health crisis, the ceiling has been raised to 50€.

But from now on, you will be able to make all your contactless payments regardless of the amount thanks to a new feature.

This feature is called PIN Online: above 50€, you will be asked for your code without having to insert your card in the payment terminal. It's faster, as secure as ever, and it avoids the problems of badly inserted cards or cards withdrawn too quickly.

So you might ask: what was preventing such a feature before? Well, simply because the secret code was only available in the card itself, which meant inserting it into the terminal to verify the code.

Today, the Online PIN allows this verification to be done online directly with the bank. 

But for widespread adoption, it is precisely necessary that each actor in the payment chain, including issuers, support this functionality, without which certain payments will not be successful.

Today in Europe, the Online PIN is supposed to be managed by the entire chain. But the degree of maturity varies from one country to another. In France, it is estimated that 90% of cards are eligible for PIN Online. In Spain and Belgium, this percentage reaches 100%.

This functionality, once available, offers merchants and their customers a faster payment step and therefore a smoother shopping experience.

At Market Pay, our solutions do just that. Whether it's with Pay On Site, our terminal-based payment solution, or with PayWish®, our Android-based payment acceptance application, it's already up and running and available to all our merchants.

That's it, the Instant Paiement is over. 

In the next issue, we'll tell you about Buy Now Pay Later, or BNPL. I will tell you all about it.

I take this opportunity to wish you a great summer vacation and while waiting for the next episode, feel free to tell us what you think about PIN Online in the comments, and for more information about Market Pay and our products, visit our website and follow us on social networks.

See you soon!