Credit and debit tap limits increased to facilitate contactless payment options
As more businesses are reopening, there's a growing demand for contactless payment options in order to help prevent the spread of COVID-19.
As a result, Moneris, in conjunction with major credit card companies, has facilitated raising the tap limit for debit and credit cards from $100 to $250.
According to recent data, many Canadians have taken advantage of this new option.
Moneris data indicates contact-less transactions over $100 made up approximately 40 per cent of all eligible transactions between May 24 and 30.
Additionally, that number is growing as more businesses begin to reopen.
As of June 7, the average payment per transaction is $148, and contact-less payments of more than $100 make up nearly half of all transactions--45.9 per cent.
Further, as the Province continues to allow more businesses to reopen, this number is projected to grow, as is the demand for contactless payment options.
- Here's what you need to know about GO Transit's new payment options in Mississauga
- Canadians spending more on groceries during the pandemic: survey
- Would You Rather Use a Credit Card With a PIN or Tap and Go?
- Province announces dates for more Ontario businesses to begin reopening
- Is using cards over cash helping prevent the spread of COVID-19?
- HOTW: Inside a $2.3 mil luxury penthouse in Mississauga's Marilyn Monroe condo
- Mississauga grocery store worker tests positive for COVID-19
- Mississauga teacher enjoying big lotto win
- BREAKING: Ontario reporting new high of over 1,000 new COVID-19 cases today
- COVID-19 outbreak declared at long-term care home in Mississauga