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COVID-19: Mastercard Increases Contactless Payment To Aid Customers’ Safety

Published

4 years ago

April 7, 2020

Mastercard has championed the move to secure a safe and secure payment transaction using a contactless method.

The Mastercard initiative was adopted as a means to ease the spread of the global COVID-19 pandemic. Thus, the was a move to curb the regional health officials and governments recommendation of social distancing, by encouraging the use of contactless payments over cash transactions.

Mastercard announced made this known on Tuesday, disclosing that it is championing efforts to increase contactless payment limits across the Middle East and Africa (MEA) region. The initiative has led to the growing number of merchants appealed to encourage consumers to pay with contactless over cash to avoid human-to-human contact.

Globally, Mastercard has been spearheading the transition to contactless for over 15 years. In MEA, the company has worked with various industry partners and sectors in multiple markets to increase the use of digital and contactless payment technology in an effort to enhance safety, security, speed and convenience in the payment experience for cardholders. In 2019, the MEA region saw >200% growth in contactless transactions.

Presently, almost 1 in 9 Mastercard transactions at point-of-sale (POS) terminals in MEA are contactless.

While following best practices from around the world, Mastercard is working closely with its partners to enable businesses and retailers to implement contactless limit increases quickly and efficiently.

Cardholder verification method (CVM) limits are being increased in Kenya, Tanzania, Uganda and Mauritius. This will ultimately improve purchase experiences for people across the region making them safer and more convenient for consumers and businesses alike.

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What Mastercard Said About Contactless Transaction?

“Mastercard remains committed to offering safe, secure, and simple payment solutions across the region. In the current environment, we are grateful that contactless payments are available so consumers can follow social distancing recommendations, and that people are embracing these safe and hygienic solutions as their preferred form of payment every day.

”Today’s announcement reflects the pace of those changing behaviours, offering consumers ease, speed and peace of mind in a rapidly changing world. We will continue to work with our industry partners to guide and support them through this effort,” said Mete Guney, Executive Vice President of Services, Middle East & Africa at Mastercard.

Cardholders should look for the contactless symbol on the front or back of their credit or debit cards to determine whether they have a contactless-enabled card or can add their debit or credit card to their mobile wallets on their contactless-enabled devices to tap and pay where contactless payments are accepted.

Mastercard’s effort to raise CVM limits is one of many the company is leading to do its part for its employees, customers and cardholders. Most recently, the company announced a partnership with The Bill and Melinda Gates Foundation and Welcome Trust to accelerate the development and access to treatment for COVID-19 with the initial grant of US$20 million funding announced to three institutions to fund clinical trials.