Coronavirus increases cap for contactless payments

More than doubled limit should only be in effect during the pandemic.

Contactless payments are increasing in popularity.Contactless payments are increasing in popularity. (Source: Courtesy of mBank)

It will be possible to pay sums higher than €20 without having to enter PIN codes in Slovakia. Parliament on Wednesday, April 8, passed a bill increasing the limit for contactless payments to €50. Contactless payments currently make it possible to pay for goods and services in a more hygienic manner.

In 2019, almost 5.3 million contactless payment cards were issued in Slovakia, according to the Slovak Banking Association. Clients in Slovakia most frequently use MasterCard, Visa and American Express cards.

Data published by MasterCard showed that Slovakia is one of 10 European countries where over 80 percent of non-cash payments are carried out in a contactless way. As much as 99 percent of POS terminals in Slovakia are contactless.

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With the new measure, Slovakia has joined other European countries that have made the same move, including, for example, Great Britain, Ireland, Estonia, Poland and Finland. More countries are set to follow suit within the next few days.

Contactless payments were introduced in Slovakia in 2012.

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