Mubasher: Mastercard has raised contactless payment limits across the Middle East and Africa (MEA) region to secure safer payment methods amid rising concerns over the novel coronavirus (COVID-19) outbreak.
Over the course of 2019, the MEA region witnessed a 200% increase in contactless transactions, according to a statement on Monday.
Currently, nearly one of nine Mastercard transactions at point-of-sale (POS) terminals in MEA are contactless.
Central banks in Saudi Arabia, Qatar, Bahrain, and Egypt have already raised the cardholder verification method (CVM) limit to a bid to secure safer and more convenient payment methods for consumers and businesses.
The global payments firm raised contactless payment limits as follows:
“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,” Mete Guney, executive vice president of Services for the Middle East and Africa at Mastercard, said.