MasterCard, Visa Lead Card Networks in Raising Contactless Payment Limits in Canada

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Card payment giants MasterCard and Visa have raised their contactless payment limits in Canada as the country moves away from cash to limit physical contact in the wake of the coronavirus pandemic. Both companies have increased their limits by $150 to $200 (all in Canadian Dollars).

Contactless payment allows shoppers to tap their credit or debit cards against a point of sale (POS) device to make payments. The process doesn’t require entering a PIN code or providing a signature.

MasterCard was the first to publicly announce the same on April 2, with the payment card’s president in Canada, Sasha Krstic, terming the move one that will significantly help the country in the fight against the coronavirus.

“Safety and social distancing are currently top of the mind for all Canadians,” he said. “Today’s announcement is one of the ways we’re helping cardholders shop easily, safely, and with greater peace of mind … Read More