Mastercard today announced it is enabling the increase of contactless payment limits across Canada, as people look for safer ways to pay in the wake of the COVID-19 pandemic. The move follows similar announcements made by Mastercard recently to champion contactless limit raises around the world.
Mastercard has been championing the transition to contactless in Canada and globally for over 15 years. Canada has been recognized as one of the most cashless societies in the world1 and the majority of in-person Mastercard transactions in Canada are already tapped.2 With this change, this contactless adoption is expected to grow even further.
„Mastercard is currently working with industry partners in Canada to make it easier to accept contactless payment up to $250 CAD. Once implemented by partners, this means that cardholders will be able to purchase more of what they need with the security, speed and touch-free experience of contactless payments at more merchants across Canada.”, according to the press release.
1) Economies Adopting the Most Cashless Technology, 2017, Forex Bonuses
2) Mastercard Transaction Data Q42019
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
