SUVA, May 23 (Xinhua) -- For the first time ever in Fiji, people can now pay their taxi fares using ATM Cards after the Australia and New Zealand (ANZ) Bank launched the ANZ POS with Ever Ready Taxis in a move to reduce the costs of business.

ANZ bank Fiji head Saud Minam said Thursday this will be a major boost for the tourism industry in the island nation as Fiji continues to move into a cashless society.

Tourism industry has contributed significantly to Fiji's economy and is the country's largest foreign exchange earner. Many tourists use taxis to travel around the country.

All Ever Ready Taxis will now have Point Of Sale (POS) machines and everyone using their service can swipe their ATM Cards to pay fares.

Fiji's Minister for Economy Aiyaz Sayed-Khaiyum said more Fijian taxi owners should come forward and install POS machines in their vehicles.

Khaiyum said the launch of the ANZ POS will further enhance electronic transaction in Fiji.

"The reality of the matter is that electronic transactions provide not only convenience to everyday consumers but it also helps the financial system and it also keeps liquidity within the banks at a higher level, it also means the cost of business transaction is reduced."

Fijian Prime Minister Voreqe Bainimarama said earlier he was determined to reduce carbon emissions in Fiji by using less paper.

Since 2017, all payments made by the Fijian government departments have been done electronically without issuing cheques.

Minam also said recently that the Fijian people were adapting well to the use of electronic platforms, and businesses were also conforming to limiting the use of paper.