Contactless transactions using Piraeus Bank cards

Contactless transactions are a new convenient, rapid and secure way to shop using special technology cards which carry the relevant logo.

Increasing the limit on contactless payment card transactions without the use of PIN.

Piraeus Bank, as part of its actions to reduce the impact of coronavirus (COVID-19) on public health and trading practices, increases the limit on contactless payment card transactions without the use of PIN, form 25EUR to 50EUR, permanently.

Under the PSD2 Service Directive the cumulative limit of € 150, in contactless transactions without the PIN, still applies to all cards.

This practice will minimize the physical contact of cardholders with the POS. For all transactions above 50EUR, the cardholders will continue to use their PIN.

Remember that all transactions of any amount, are being completed contactless without giving the payment card to the store assistant.

In any case, it is always essential that all cardholders keep their cards secure.

What are contactless transactions

Contactless transactions are based on NFC (Near Field Communication) wireless technology and enable customers to shop by simply holding their card near the dedicated device.

How to carry out a contactless transaction

  • The merchant enters the payment amount, which then appears on the screen of the card acceptance device. You simply hold your card near the device

  • In a few seconds you will hear a distinctive sound and the approval will appear on the device screen. The merchant will hand you the transaction receipt issued by the device

  • Note: If the amount exceeds €50, you will have to enter your PIN. If the amount is less than €50, you do not have to enter your PIN. However, all contactless transactions up to the amount of €50 each and up to the cumulative amount of €150 do not require entering a PIN at a POS terminal. Each time a transaction using PIN authentication is carried out, the €150 limit will be reset to zero.

What are the benefits for the customer

Easy to use

You do not need to look or wait for exact change during your everyday transactions.
You do not need to enter your PIN if the amount is less than €25 and under the prerequisite that your transactions for which you did not have to use your PIN do not exceed the cumulative amount of €150. For payments over €25, you will have to enter your PIN.
In neither case do you need to sign the relevant receipt.


The payment process is faster than using cash or a credit card. This way you spend less time waiting at the checkout. Complete all your transactions in just a few seconds.


Contactless transactions are a much safer way to shop compared to cash, as your card never leaves your hand during payment.

Security FAQs for contactless transactions

1.Which are the safety standards of the contactless technology?
  • All Visa and Mastercard® Payment Organizations international security standards
  • A series of powerful security features embodied in each card
  • Chip & PIN security technology
2.What if my contactless card is Lost or Stolen?
If you lose your card, or you suspect that its details have been stolen or have been compromised, you must contact your bank immediately. It is very important to check regularly that your card is in your possession. In addition check your card’s statement and control your account balance for unauthorized transactions. In that case, please report it immediately.
3.Is it possible to change the minimum amount of €50 for contactless non-PIN transactions, the way I prefer?
This limit is strongly suggested by Visa and Mastercard® International Organizations and there is no possibility to change or repeal it.
4.Is it possible to make contactless transactions with my card, as I stand close to the card acceptance device, without realizing it?
In order to perform a contactless transaction, the card must be very close (less than 8 centimeters) to the Point of Sales device and remain close to it for as long as it is necessary, until you hear the sound "beep", in order to have a successful transaction.
5.Can I make only contactless transactions with my card?
Contactless transactions are carried out only in the special card acceptance device with the contactless logo . By all means with this card, you can also make Chip & PIN transactions. Also, there is no change in the use of the card on ATMs. You will always be able to use your card’s Chip & PIN technology for amounts less than 50€, in case you do not want to make a Contactless transaction.
6.If I pass, by mistake, my card twice in front of a card acceptance device, will I be charged the transaction twice?
For completing a contactless transaction, the merchant must enter the transaction amount on the card acceptance device. Therefore, if you pass many times your card in front of the card acceptance device, you will not be charged, as the device is not “prepared” for accepting any transaction.