Mastercard increases limit on contactless payments.

Mastercard announced that it is championing efforts to increase contactless payment limits across the Middle East and Africa (MEA) region as people look for safer ways to pay in the wake of the COVID-19 pandemic. The initiative is in line with recommendations from global and regional health authorities and governments to practice social distancing that has led a growing number of merchants to encourage consumers to pay with contactless over cash to avoid human-to-human contact.

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 Wellcome 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.

Globally, Mastercard has been spearheading the transition to contactless for over 15 years. In MEA, the region saw 200% growth in...