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A smoother and more hygienic way to pay


Hero contactless SV Hero contactless SV Placehoder
3 min read

At Bambora, we see that as many as 60% of our Nordic customers' payments are made contactless. As conditions continue to improve, the number of contactless payments continues to increase. As an additional step in this development, Mastercard now raises the limit for contactless payments. This development is positive for you as a merchant from several aspects. Not only can you offer your customers smoother and more secure payments, but also a more hygienic purchase experience.

On March 25, 2020, Mastercard announced that they raise the limit for contactless payments in Europe. 29 countries are now implementing new limits to simplify and further secure the payment experience for people. The new increase will be applied in April. The increased limits not only simplify smoother payments, but it also reduces the contact between people through a third party - the card terminal.

Visa and Mastercard are two major players contributing to the development of contactless payments and they are constantly working on increasing the opportunities for customers to pay contactless. January 1, 2020 was an important date for the contactless payments. Namely, it was the date that both Visa’s and Mastercard’s merchants had as deadline to ensure that all of their payment terminals must be able to receive contactless payments. This measure, together with the fact that many Nordic banks and card schemes increased their purchase limit for contactless purchases without a PIN code, and the introduction of PSD2 has contributed to contactless payments increasing and becoming more common. The new limits for contactless purchases in the Nordic countries can be found here .

Lately, the use of contactless cards and mobile devices as means of payment has increased significantly in Europe. Today, 75% of all transactions with Mastercard are contactless. According to a survey made by Insight Intelligence, the number that has a contactless debit card increased by 38% to a total of 73%. Also, 50% always make contactless card payments if possible. The proportion of users who make contactless payments via mobile has also increased to 32%. As the holder of a Bambora card terminal, you can feel confident that you are meeting the increase of contactless payments since all of Bambora's terminals have been equipped with that technology since the start.

A crucial factor for your customers to be able to make contactless payments via mobile is that their bank allows them to add their card to Apple Pay or similar. As of now, some of the major Nordic banks do not offer this opportunity. However, the number of banks offering the opportunity is constantly increasing in order to meet customer demand.

The increased use of contactless payments and the increase in limits have many positive effects for you as a merchant. A big advantage is that it contributes to faster and easier payments for both you and your customers. Even for more expensive purchases where PIN code is required, the purchase goes faster as the customer doesn’t have to put her card in the terminal. In addition to being faster, this payment method is also more secure. The built-in security features in contactless technology make it more difficult for card fraudsters. The number of card fraud has decreased significantly in the last ten years thanks to the chip and PIN technology that contactless cards possess. The increase in contactless payments is also positive from a hygiene aspect as it reduces the number of contact points between different people. However, as a merchant it is still important to clean the terminals often as all payments are not made contactless. Here are some tips on how to clean your card terminal.