Paytm Becomes the Largest Issuer of FASTags in India

Paytm Payments Banking company (PPB) on Monday announced it has become the largest FASTag issuer in India as it has issued three 1000000 FASTags so far, thus, accelerating the adoption of electronic payments across price plazas.

"This milestone is a attestation to the efforts nosotros are putting in the 'Digital Bharat' vision of the government. Nosotros will go along to work towards the adoption of digital toll payments in the country," Satish Gupta, Doctor and CEO-Paytm Payments Bank, said in a statement.

FASTag is an electronic toll drove system, operated by the National Highway Authority of India.

It employs Radio Frequency Identification technology for making toll payments directly from the prepaid or savings business relationship linked to it or direct cost possessor.

Paytm Payments Bank also aims to about double FASTag adoption to five 1000000 vehicles by March. It has issued over 40 per cent of all FASTags in last i calendar month and is actively expanding its reach.

Paytm FASTag allows users to pay direct from their Paytm Wallet, without requiring to create and recharge a divide FasTag wallet.

It can be purchased with minimum documentation like vehicle registration number and certificate and is delivered at the registered address free of cost.

Paytm Payments Bank is India's second largest acquiring banking company for National Electronic Toll Drove (NETC) programme, offering an interoperable nationwide price payment solution.

Paytm FASTag enables automatic cashless payments at over 110 toll plazas beyond India, making road travel frictionless and time-efficient.

Information technology is boosting the sale of FASTags by deploying x,000 business correspondents in all major cities and towns beyond the land.

To educate people on the convenience of cashless payment and help commercial vehicle owners buy the tags, Paytm Payments Bank has set up over 300 camps at toll plazas across India.

PPB is currently the leader in the Electronic Toll Collection (ETC) market and acquires the highest ETC traffic plaza at Shahjahanpur which registers the highest electronic toll collection, according to the company.

Furthermore, the bank efforts take achieved 50 per cent digitisation at Makhel Toll Plaza in Gujarat, which is also the highest in the state.