The government of Macau is stimulating the local economy by distributing contactless smartcards to residents that come pre-loaded with a credit of 3,000 patacas (US$377.43) that must be spent in local stores by the end of July. More
- Apple Pay users in the US to get buy now pay later option with iOS 16
- BIS reports on CBDCs in emerging markets
- Moroccan bank launches biometric payment card
- US digital bank introduces contactless payments rings
- Riksbank completes digital currency payments pilot
Apple Pay Express Transit payments roll out to 275 cities across China
Commuters in 275 Chinese cities can now add their T-Union public transportation card to their iPhone or Apple Watch and then use their smartphone or wearable to tap in and out of bus and subway services without the need to first validate the transaction using Face ID, Touch ID or a passcode... More
Commonwealth Bank reports surge in digital wallet transactions
Digital wallet transactions grew 17% in March 2020, outpacing the average monthly compound growth rate of 6.7% over the past six months, Commonwealth Bank of Australia (CBA) reports... More
New Zealand raises contactless limit by 150%
New Zealand is to progressively roll out a temporary increase in the country’s contactless transaction limit “over the coming days and weeks” — but customers of two banks will miss out “due to technology constraints” unless they order a new card or make use of mobile payments. More
Switzerland and Liechtenstein double contactless payments limit
The contactless transaction limit in Switzerland and Liechtenstein is to be temporarily increased from 40 francs (US$41.60) to 80 francs (US$83.21) “in order to protect customers”. More
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Starling Bank adds connected cards for volunteer shoppers
Customers of Starling Bank are now able to request an additional, specially restricted payment card that can be given to a friend, family member or volunteer shopper “to buy essential items on their behalf”... More
Kenya, Tanzania, Uganda and Mauritius to increase contactless transaction limit
Contactless transaction limits are being increased in Kenya, Tanzania, Uganda and Mauritius, Mastercard has announced... More
Belgium increases contactless transaction limit to €50
Belgium is to increase the contactless transaction limit from €25 ($US27.07) to €50 ($US54.54) from 14 April, “to curb the spread of the coronavirus.” More
BIS reports on likely impact of Covid-19 on cash, cards and mobile payments
The pandemic may result in increased calls to defend the role of cash, moves towards more quickly introducing central bank digital currencies and a structural increase in the use of mobile, card and online payments, a Bank for International Settlements (BIS) research bulletin analysing the likely impact of Covid-19 says... More
UK supermarkets launch digital volunteer shopping cards
UK supermarket chains Asda and M&S Food are making it possible for customers who are self-isolating to prepay online for purchases that volunteer shoppers can then make in-store on their behalf... More
Walmart updates mobile app for contact-free transactions
Walmart has updated its mobile app to remove the need for shoppers to make physical contact with a self-checkout station when paying with the retail giant’s QR-based Walmart Pay service... More
Coronavirus prompts Publix to install contactless payments in all its US supermarkets
US supermarket chain Publix has rolled out contactless payments across its 1,243 stores “to protect the health and well-being of its customers and associates during the coronavirus pandemic… More
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McKinsey: Coronavirus will cost the payments industry $165bn
An analysis of the global payments industry by McKinsey & Company predicts that Covid-19 will result in a loss of revenues of between US$165bn and US$210bn in 2020 — and sets out “ten fundamental changes to the payments ecosystem that will help all of us find a new normal.” More
Canada increases contactless transaction limit by 150%
Visa and Mastercard are increasing the contactless payment limit in Canada by 150%, from C$100 (US$70) to C$250 (US$176). More
Australia doubles contactless transaction limit to A$200
The Australian payments industry has begun implementing an increase in the country’s contactless payments transaction limit, from A$100 (US$60) to A$200 (US$120). More
Visa reports on the impact of Covid-19 on payment volumes
US credit card payment volumes decreased by 7% in March 2020 compared with March 2019, Visa has reported, while cross-border transaction volumes have fallen 19%. More
Qatar triples contactless transaction limit
Banks in Qatar are raising the contactless transaction limit from 100 riyals (US$27.46) to 300 riyals (US$82.39), in a bid to limit the spread of Covid-19. More
EBA recommends Europe-wide contactless transaction limit increase
The European Banking Authority has issued a statement urging the European payments industry to increase contactless transaction limits to €50 (US$54.97). More
Table: Contactless payment transaction limit increases around the world
Updated 30 January 2023 Countries around the world are increasing the contactless transaction limit in a bid to lower cash usage to combat the spread of Covid-19. NFCW has collated into one table the increases for each country and will keep it up to date during the crisis. More
Mastercard: 29 countries have now agreed to raise their contactless payment limit
Mastercard is now working with 29 countries across Europe and central Asia to implement increases to their contactless payment transaction limit, the payments network says. More