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April 3, 2020

Covid-19: Mastercard hikes contactless payment limits to C$250 in Canada

Mastercard has increased limit of contactless payment limits to C$250 across Canada to facilitate social distancing in the wake of Covid-19 pandemic.

Contactless payment enables users to tap their payment card on a point of sale device without having to feed a PIN code or provide a signature.

The decision to raise the limit follows the appeal by the government officials to practice physical distancing in the wake of the pandemic.

Mastercard recently raised the limit in various other countries across the world to boost the adoption of contactless payments.

The company noted that it currently working with industry partners in Canada to make it easier to accept contactless payment.

Mastercard president in Canada Sasha Krstic said: “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.

“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.”

Mastercard added that merchants need not take signatures on a receipt or electronic point of sale device for contactless payments.

Recently, Mastercard teamed up with The Bill and Melinda Gates Foundation and Wellcome Trust to accelerate the development and access to treatment for COVID-19.

They together pledged up to $125m in funding to accelerate the identification, assessment, development and scaling of treatments.

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