? Cool Title, but what’s the news?
In a step to boost the Digital India programme, the Finance Ministry has asked banks to start 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, the Economic Times reported.
? Okay, but what does it mean?
NFC-enabled cards are issued by banks that allow users to just tap it against a compatible PoS machine instead of having to swipe it, which requires physical contact.
? Why should I care?
As and when cards need to be re-carded, then at that stage the new cards being issued can be NFC enabled/contactless and whenever new cards are being issued they could also be NFC enabled/contactless,” read the letter circulated by the ministry.
We bet you can’t wait for your current card to expire, so that you too can experience the future!
Source: Moneycontrol
