New Delhi. Digital payment service provider Paytm will start FASTag based parking services across the country. Giving this information on Monday, Paytm Payments Bank Limited (PPBL) has said that in partnership with Delhi Metro Rail Corporation (DMRC), the country’s first FASTag based metro parking facility has been started. Let us tell you that Paytm Payments Bank Limited (PPBL) has said that it will deposit the parking fee through FASTag.
Service started at Kashmere Gate Metro Station
DMRC Managing Director Mangu Singh said in a statement issued by PPBL, “This is yet another step in our endeavor to provide convenience to our customers, especially at a time when there is a need for contactless transactions.” Paytm has launched FASTag based parking facility at Kashmere Gate Metro Station.
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Two wheelers will get this facility
PPBL will facilitate the processing of all FASTag-based transactions for cars with valid FASTag stickers. With this, there will be no need to stop for cash payment at the counter. In addition, Paytm Payments Bank has launched a UPI based payment solution for two wheelers entering the parking site.
Service will also start in shopping malls, hospitals
PPBL is also in discussion with various stakeholders to implement digital payment system for parking at shopping malls, hospitals and airports as well.
3.47 crore FASTag issued so far
Paytm Payments Bank became the first bank in the country to achieve the figure of 1 crore FASTag issuance in June. According to NPCI, a total of more than 3.47 crore FASTags were issued by all banks till the end of June 2021.
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What is FASTag?
As soon as your vehicle arrives at any toll plaza on any national highway in the country, the sensor on the toll plaza tracks the FASTag sticker on the windscreen of the vehicle. The fee charged at that toll plaza is deducted from your FASTag account. This way you are able to pay without stopping at the plaza. When the amount in your FASTag account runs out, you will have to recharge it. It can be recharged through check or through UPI/ Debit card/ Credit card/ NEFT/ Net banking etc.
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