Various countries are increasing contactless card limits following Coronavirus outbreak
The spending limit for contactless card payments is being increased in several European countries. This is to support customers choosing to make contactless payments in response to the Covid-19 outbreak.
This means that consumers can make higher value purchases with their contactless cards in-store without having to enter a PIN, sign a transaction receipt or use cash.
There’s no doubt that contactless is becoming more and more established as an everyday way to pay. The usage figures are phenomenal. For example, 75% of all Mastercard transactions across Europe are now contactless, the card giant confirmed1. Increasing the contactless limit is set to boost contactless acceptance and usage still further. And make shopping quicker and easier for both merchants and consumers.
Nearly 30 countries are announcing rate changes, many of which are effective from 1 April 2020. Estonia, Ireland and Portugal will raise their contactless limits to EUR50 and the UK from £30 to £45 permanently. Meanwhile Greece and the Netherlands, among other countries, are making temporary changes to help merchants and consumers during this difficult time.
The rate changes are summarised in the table below:
|
Country |
Currency |
Current limit |
New limit |
|
Albania |
LEK |
2,000 |
4,500 |
|
Armenia |
AMD |
12,100 |
20,000 |
|
Belarus |
BYN |
20 |
100 |
|
Bulgaria |
BGN |
50 |
100 |
|
Croatia |
HRK |
100 |
350 |
|
Cyprus |
EUR |
20 |
50 |
|
Estonia |
EUR |
25 |
50 |
|
Germany |
EUR |
25 |
50 |
|
Georgia |
GEL |
45 |
100 |
|
Greece |
EUR |
25 |
50 |
|
Hungary |
HUF |
5,000 |
15,000 |
|
Ireland |
EUR |
30 |
50 |
|
Kazakhstan |
KZT |
5,000 |
20,000 |
|
Kosovo |
EUR |
15 |
40 |
|
Kyrgyzstan |
KGS |
1,525 |
2,500 |
|
Latvia |
EUR |
25 |
50 |
|
Lithuania |
EUR |
25 |
50 |
|
Luxembourg |
EUR |
25 |
50 |
|
N. Macedonia |
MKD |
750 |
2,000 |
|
Malta |
EUR |
25 |
50 |
|
Netherlands |
EUR |
25 |
50 |
|
Poland |
PLN |
50 |
100 |
|
Portugal |
EUR |
20 |
50 |
|
Spain |
EUR |
20 |
50 |
|
Sweden |
SEK |
200 |
400 |
|
Tajikistan |
TJS |
140 |
200 |
|
Turkey |
TRY |
120 |
250 |
|
UK |
GBP |
30 |
45 |
|
Uzbekistan |
UZS |
52,500 |
250,000 |
Source: Mastercard press release, 25 March 20202
To find out more about contactless rate update options or discuss your particular requirements, e-mail sales@pxpfinancial.com or complete your details on the contact form below.
Please contact the service desk by phone +44 (0) 844 209 4372 or servicedesk@pxpfinancial.com
1 ‘Mastercard enables contactless limit raise across 29 countries; and champions permanent increase’, Mastercard press release, 25 March 2020, https://newsroom.mastercard.com/eu/press-releases/mastercard-enables-contactless-limit-raise-across-29-countries-and-champions-permanent-increase/
2 ibid