Last July 2021, the Spanish government approved a law that limited the amount of cash that we could pay in bars, shops and other businesses. Since a few months, therefore, using cash we can only pay bills up to 1000 euros. And for the others? Apple Pay to the rescue.
More security and versatility thanks to Apple Pay
What to do when we are presented with an invoice that exceeds 1000 euros? We can do several things, but the most common is to take out our credit or debit card or our iPhone or Apple Watch with Apple Pay. Here the payment limit per transaction depends directly on our bankand we can modify it with the entity, as we need.
A limit, moreover, that, in most banking entities, we can modify independently for both the card’s contactless module and Apple Pay, which we often call digital wallets. Thus, given the greater security of Apple Pay, with its authentication system, we can have the peace of mind of increasing the maximum cost well above that of the physical card, which is even more likely to be lost.
The limitation of payments in cash joins the one already in force, for a practical matter, that no one is obliged to accept more than 50 coins in one payment. An amount that we can only use in the issuing entities or in people expressly designated for it.
With these measures, Spain follows in the footsteps of Europe in reducing the use of cash in favor of forms of payment that leave a record of all our operations. Without losing sight of the fact that with Apple Pay we can withdraw money from an ATM, it is clear that digital payments are here to stay. Thanks to the security and reliability of Apple Pay we are, fortunately, prepared.