With the government mandating the use of FASTag on every new vehicle sold from 1st December, India’s largest digital bank Paytm Payments Bank is rolling out Paytm FASTag across India.
The Paytm FASTag — which is a simple and reusable tag based on radio-frequency identification technology (RFID) that can be placed on a vehicle’s windscreen — enables electronic toll fee collection on highways across the country. Now, you can pass through 380 toll plazas across India covering 55,000 kms without having to stop. Each FASTtag is linked to a registered Paytm account to facilitate instant automatic deduction of toll charges.
We are currently working with leading car and commercial vehicle manufacturers and dealers, including Maruti, Hyundai, Tata, Mercedes, Renault, BMW, Volkswagen, Volvo, among others, to make Paytm FASTag available for customers purchasing new vehicles across India. If you already own a vehicle, you can buy FASTag online on Paytm app. Paytm FASTag customers will get 7.5% cashback on every toll transaction.
Renu Satti, MD & CEO — Paytm Payments Bank said, “Cash payments at toll plazas result in precious man hours and fuel being unnecessarily spent, as attendants and motorists are left grappling with the hassles of dealing in exact change. The Paytm FASTag will facilitate non-stop movement of vehicles through toll plazas and bring the benefits of cashless payments to every toll in India. Besides offering convenience to commuters, this will also improve transparency and overall efficiency of the country’s toll network.”
The project is run in partnership with the National Highways Authority of India (NHAI) and NPCI.