Mastercard's swipe limit increase boosts social distancing
From April 9, Customers now able to spend more when using their Mastercard without entering a PIN number, helping reduce body-to-surface contact when buying essentials.
Mastercard has today announced that contactless payment limits in Australia will increase from AU$100 to AU$200 for consumers with Mastercards, enabling more transactions to take place without the need to touch a PIN pad.
The increase aims to help mitigate further the spread of COVID-19 by providing a quick and secure way to pay for household necessities, that is also more hygienic.
Their own research shows more than 85 percent of Australian Mastercard transactions are currently over AU$100, causing considerable risk during a time of pandemic. Mastercard has, by permitting a larger number of transactions to take place using contactless without entering a PIN, allowed fewer purchases to require customers to touch potentially infectious surfaces, handle cash or use a pen to process payments at point of sale.
Richard Wormald, division president for Australasia, Mastercard said COVID-19 has become a part of our new reality.
"Mastercard is committed to providing people with the safest, most secure way to pay for their purchases, whether that is the physical transaction itself or the security tools protecting their payment.
"In times like this every effort, both big and small, matters and can have a positive impact on our society.
"Mastercard will continue to explore new ways to support businesses and consumers as we face this challenge together."
Mastercard recently partnered with the Bill & Melinda Gates Foundation and Wellcome, collectively committing US$125 million to speed development and access to therapies for COVID-19.
For more details on future commitments, and to read Mastercard CEO Ajay Banga's open letter outlining our approach to the current climate, visit the Mastercard Newsroom.