In order to make electronic payments easier, the Reserve Bank has said that it is ready to relax the norms only for 'card present' transactions where near-field communication (NFC) technology is used. In a draft circular issued from Mumbai on Friday, RBI said it has decided to relax the extant instructions relating to the need for additional factor of authentication requirements for small-value card-present transactions only. The regulator has set a limit of Rs 2,000 per transaction even for contact-less cards.At present, a customer has to key-in the personal identification number (PIN) for authenticating every transaction. If this draft circular gets implemented, customers using contact less cards will not have to key in the PIN for transaction up to Rs 2,000.RBI has advised banks to explain their customers the NFC technology, its use, risks and also the maximum liability devolving on the customer. The apex bank has further asked banks to put in place a robust mechanism to report of loss or stealing of cards. At present, only ICICI Bank has a contact less card offering.RBI said it has arrived at this conclusion after examining the trade-off between security and convenience. RBI has sought public comments on this draft circular till 4th April 2015.