The major schemes have announced over the last few weeks their commitment to enabling the increase in contactless payment limits across Europe. The move comes as 29 countries implement new limits, which will in the short term aid the fight against COVID-19 but 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 the contactless payment limit 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. Today’s announcement on the contactless payment limit 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,” comments Milan Gauder, Executive Vice President of Product and Innovation, Europe at Mastercard.
Among the 29 countries, UK, Ireland, Estonia and Poland are leading the way with permanent changes to limits while the likes of Netherlands and Greece are implementing temporary limit raises to help their people shop easily during this difficult time.
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.”
Below are all 29 countries with their old and new limits:
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