Mastercard announced on Wednesday it is now offering a contactless limit raise across 29 countries as part of its commitment to enabling the increase in contactless payment limits across Europe.
Mastercard reported that across Europe, it has “championed” several initiatives that have seen a dramatic increase in the use of contactless cards and mobile devices, with 75% of all Mastercard transactions across Europe are now contactless. The credit card giant noted that the 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. Milan Gauder, Executive Vice President of Product and Innovation, Europe at Mastercard, further stated:
“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. Today’s announcement is 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.”
UK, Ireland, Estonia, and Poland are leading the way with permanent changes to limits while the Netherlands and Greeces are implementing temporary limit raises to help their citizens shop “more conveniently” during the coronavirus outbreak. Gaunder 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.”