Mastercard Allowing Increase of Tap Payment Limits in Canada Due to COVID-19
Mastercard has announced today it is allowing for the increase of contactless payment limits across Canada, due to the COVID-19 pandemic.
As health officials recommend social distancing, numerous merchants are pushing for contactless payments to limit interaction. By allowing for an increase to tap payment limits, that means customers don’t need to touch PIN pads when a transaction total is higher than $100.
Mastercard tells iPhone in Canada it is working with industry partners “to make it easier to accept contactless payment up to $250 CAD,” allowing for customers and retailers to process transactions much faster than before.
“Mastercard is proud to have played a leadership role in driving the adoption of contactless payments in Canada and we know that Canadians have embraced it as a preferred way to pay,” said Sasha Krstic, president of Mastercard in Canada, in an issued statement. “With safety and social distancing top of mind for all Canadians, today’s announcement is one way we’re helping cardholders to shop easily, securely and with more peace of mind during this difficult time.”
Increasing the contactless payment limit means users of mobile wallets such as Apple Pay, Google Pay and Samsung Pay, can just tap their phones with Mastercard to make payments on transactions above the traditional $100 limit.