The finance ministry, in a letter written to the chief executives of banks, has asked lenders to begin issuing near field communication (NFC)-enabled credit and debit cards to their customers, as that would enable the government to expand the use of card payments beyond merchant transactions, reported the Economic Times. In the letter, a copy of which was seen by ET, the ministry said that NFC enabled or contactless cards are not only secure and convenient but also pointed out that most point-of-sale (PoS ) terminals in the country are already capable of reading such cards. As such, if banks start issuing the said cards to its customers, it could help push up the adoption of digital transactions in the country, the ministry’s letter said according to ET. “As and when cards need to be re-carded, then at that stage the new cards being issued can…
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