Contactless limits cut down on the number of contactless transactions consumers can make because they can't make purchases that exceed the value caps with only a tap. Raising the limits should encourage more consumers to make contactless payments, especially during the pandemic.
If card networks push for higher limits around the world and convince more issuing banks to distribute contactless cards, the payment method could be favored by a large swath of consumers by the end of the pandemic. Consumers are already working to stores, but when they have to visit one they likely want to make the transaction as quickly as possible and minimize their contact with any shared surfaces.
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