Paytm Has Decked Up 5 Million+ Vehicles With FASTags For Cashless Toll Tax Payment

Banking and transaction methods are nowadays completely becoming cashless for promoting Digital India on a high scale. In the series of digitalization, Paytm Payments Bank Limited (PPBL) has announced something of a very big deal recently. 

According to a recent statement by PPBL, 5 million-plus vehicles across India have already been decked out with FASTags, and even they have set their aim of installing the same number of  FASTags in the upcoming 3 months.

For making the payment process of toll tax cashless, PPBL is giving access to 211 toll plaza across India for online payment services. With this step, PPBL has become the largest acquiring banking firm under the National Electronic Toll Collection (NETC) program.

Further on, PPBL has a target to acquire another hundred toll plazas so that it may achieve a cent percent growth in FASTags sales by the end of January 2021. By now, Paytm has made its appearance as the largest facilitator of digital payments in the country.

NETC program, which is claimed to be the forerunner enterprise by the Ministry of Road Transport and Highways, has been carried into action so that all the hurdles related to toll tax can be removed and to make sure the uninterrupted movement of traffic and collection of toll tax as per the declared rates by making the use of Passive Radio Frequency Identification (PRFI) or (RFIT) Technology.

Planning For Those Who Are Not Aware Of Cashless Banking

PPBL has declared that those people who are not aware of the cashless transaction or online payment, for educating such type of people about the benefits of cashless payment as the method of payment method at toll plazas and for helping the vehicle owners in purchasing the FASTags, it has established 20000 plus camps at toll plazas, residential parking lots, fuel stations and other commercial areas across India.

Satish Kumar Gupta, the CEO and managing director of the PPBL group has said in his statement,” We are dedicated to increasing the adoption of digital toll tax payment across the country and making road travel consistent as well as efficient. We are performing these tasks by keeping the empowerment of the Digital India Mission of government in mind and encourage cashless payment.

Partnership With Other Firms

In order to offer pre-installed Paytm FASTags at the time of vehicle purchase Paytm has recently partnered with some automobile dealers like- Hyundai motors India, Maruti Suzuki Honda cars India, Kia motors India private limited, MG motors India, etc.