As the world continues to combat the spread of COVID-19, Mastercard has announced it is increasing the firm’s contactless payment limits across Canada.
The prevalence and importance of contactless payments has been elevated as consumers have sought to halt the spread of the virus through social distancing and not engaging in contact wherever possible.
The move follows similar announcements made by Mastercard recently to champion contactless limit raises around the world, as health officials recommend social distancing and a growing number of merchants encourage consumers to pay with contactless to minimise interaction.
Sasha Krstic, president of Mastercard in Canada commented: “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 has been championing the transition to contactless in Canada and globally for over 15 years and Canadians have embraced this fast, simple and secure way to pay.
Canada has been recognised as one of the most cashless societies in the world and the majority of in-person Mastercard transactions in Canada are already tapped. With this change, this contactless adoption is expected to grow even further.
Mastercard’s effort to raise contactless limits is one of many initiatives the company is leading to support its employees, customers and cardholders. Most recently, the company announced a partnership with The Bill and Melinda Gates Foundation and Wellcome Trust to accelerate the development and access to treatment for COVID-19.
Together, the companies committed up to $125 million in funding to speed-up the identification, assessment, development, and scaling of treatments. In addition, Mastercard employees around the world have engaged in its employee donations match program to help communities globally.