Visa raises the limit on NFC transactions 22 September 2009 4:15PM Jason Bryce There have been numerous trials of NFC technology over the last few years. In 2008 ANZ held a trial of PayWave technology in prepaid cards at a rugby match in Sydney and NAB conducted a trial of the technology embedded into Telstra Sagem MY 700X mobile phone handsets. Those trials as well as Commonwealth Bank's trials in NSW and at a golf tournament in Melbourne two years ago all had transaction limits set at about $35. Visa has now set a transaction limit of A$100 on the PayWave system.Visa's Australian chief executive Chris Clark says that limit encompasses many day-to-day purchases, including petrol."What we've done in our operating rules is set a limit on transactions of one hundred Australian dollars on the wave-and-go technology; anything over $100 will require card holder verification separately."That is based on our overseas experience and consultations with issuers in Australia. The weighted average of contactless transactions is under one hundred dollars and importantly that includes most petrol purchases as well."