Important new move builds on the phenomenal growth in use of contactless with Mastercard enabling businesses and retailers to implement limit increases quickly and efficiently to help people everywhere benefit from the fastest and simplest way to pay
Belgium, Waterloo, 6th April 2020 Following the news that Mastercard committed to enabling the increase in contactless payment limits across Europe, a further 2 countries have become fast followers, bringing the total to 31 countries implementing limits, which will ultimately improve shopping experiences for people across the region.
Across Europe, Mastercard has championed several initiatives which have seen a dramatic increase in the use of contactless cards and mobile devices; 75% of all Mastercard transactions across Europe are now contactless. This increase in contactless limits will mean cardholders and shopkeepers will soon be able to make and receive more of their payments both quickly and securely, and without the need to enter a PIN or use cash.
“Mastercard was the first to grasp the potential and ensure all payment terminals became contactless ready from 1st January 2020. We have all now seen how quickly people have embraced Contactless payments as their preferred way to pay every day. These measures are designed to reflect the pace of changing behaviours of the people we all serve giving them ease, speed and peace of mind in a fast changing world.” said Milan Gauder, Executive Vice President of Product and Innovation, Europe at Mastercard.
Whilst many countries are leading the way with permanent changes to limits, some are temporary measures to help their people shop easily during this difficult time. These fast followers will be fully enabled by Mastercard to ensure, whether a permanent or temporary change, it is implemented quickly and safely.
He added, “Since its inception, Mastercard has been championing the benefits of contactless payments as a simple, safe and fast way to pay. Today’s announcement means that not only will those who are already using contactless benefit from even more freedom to pay, in a way they want, it will also provide additional support for people with the daily challenges they face.”
Please find below all countries with their old and new limits:
About Mastercard (NYSE: MA), www.mastercard.com
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
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