Bank of Portugal removes limits on credit card use
Central bank issues new regulation to encourage the use of electronic payments
The Bank of Portugal has removed merchants’ ability to put limits on credit card transactions, in a bid to encourage the use of electronic payments during the Covid-19 outbreak.
In a statement published in Portuguese on March 27, the central bank said merchants would be unable to “refuse or limit” the acceptance of cards for payment of any goods or services, regardless of the value of the transaction. These changes will be in place until June 30, 2020, the central bank said.
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