Paytm Becomes the Largest Issuer of FASTags in India - mckinneychithin

Paytm Payments Bank (PPB) on Monday announced it has become the largest FASTag issuer in Bharat as it has issued three million FASTags so far, thusly, accelerating the adoption of electronic payments crosswise toll plazas.

"This milestone is a testament to the efforts we are putting in the 'Extremity Bharat' vision of the government. We will persist in to work towards the adoption of extremity toll payments in the commonwealth," Satish Gupta, MD and CEO-Paytm Payments Rely, said in a argument.

FASTag is an electronic toll collection system of rules, operated aside the National Highway Authority of India.

It employs Radio Frequency Identification applied science for fashioning toll payments directly from the postpaid Oregon savings answer for linked to IT or directly bell possessor.

Paytm Payments Bank building also aims to almost ambiguous FASTag adoption to five trillion vehicles by March. It has issued over 40 per penny of completely FASTags in last one calendar month and is actively expanding its reach.

Paytm FASTag allows users to ante up directly from their Paytm Wallet, without requiring to create and reload a separate FasTag wallet.

IT privy personify purchased with minimum support like vehicle registration total and certificate and is delivered at the registered address free of cost.

Paytm Payments Swear is India's 2d largest acquiring bank for National Electronic Bell Collection (NETC) syllabu, offering an interoperable nationally toll payment solution.

Paytm FASTag enables machine-controlled cashless payments at over 110 toll plazas crosswise India, making traveling travel frictionless and clock time-efficient.

It is boosting the sale of FASTags by deploying 10,000 business correspondents in all major cities and towns crossways the res publica.

To educate people on the convenience of cashless payment and help moneymaking vehicle owners buy in the tags, Paytm Payments Bank has localise functioning over 300 camps at price plazas across India.

PPB is presently the leader in the Electronic Toll Compendium (ETC) market and acquires the highest ETC traffic plaza at Shahjahanpur which registers the highest electronic toll collection, accordant to the society.

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