Finance Ministry to introduce contactless cards

Credit and debit has come to light that the Finance Ministry is all set to start issuing contactless cards, which will utilise near field communication

The move is aimed at boosting transactions beyond the current accessible limit, reports The Economic Times. The Finance Ministry has written to all the chief executives of banks on the topic of NFC or contactless cards, explaining that such payment tools are the “next generation of innovation”.

This would certainly help the government’s aim to achieve at least 30 billion digital transactions by the end of this year.