Paytm Payments Bank Tops Digital Toll Collection in India, Issues 5 Million FASTags


Paytm Payments Bank Tops Digital Toll Collection in India, Issues 5 Million FASTags

By enabling automatic cashless payments at 211 toll plazas across the country, Paytm Payments Bank Ltd (PPBL) has become the largest acquiring bank under National Electronic Toll Collection (NETC) program. It also wins the tag of being the largest issuer of FASTags in the country and has equipped more than five million vehicles with these tags. This surely has made the company emerge as the largest facilitator of digital toll payments in the country. Puffed with power muscles, PPBL aims to acquire another 100 toll plazas and achieve 100 percent growth in FASTags sales.

With no need to have any separate prepaid account to be created, the money for toll payments gets auto-debited from Paytm Wallet, while the balance can also be used for shopping, recharges, bill payments and others.

Satish Kumar Gupta, CEO & Managing Director, PPBL, says, “We are committed to increasing the adoption of digital toll payments in the country and making road travel seamless and time-efficient for everyone. We are overwhelmed with the response of our users who have helped us become the largest issuer and acquirer of FASTags in the country. All our efforts are aligned to boost ‘Digital India’ mission of our government and encourage cashless payments in our country”.

Hence to educate people about the convenience of cashless payment at toll plazas and help vehicle owners purchase the tags, PPBL has set up nearly 20,000 camps at toll plazas, residential parking lots, fuel stations and other commercial areas across the country. It has also partnered with the dealers of the leading automobile manufacturers such as Maruti Suzuki, Hyundai Motor India, Honda Cars India, Kia Motors India, and several others to offer pre-fitted Paytm FASTags at the time of vehicle purchase itself.