Jio Payments Bank wins contract for free-flow toll system rollout

Jio Payments Bank began FASTag-based toll collection in July 2025, and is currently managing toll operations at 11 toll plazas on different highway stretches across the country as an acquirer bank

Jio Financial Services on Monday said its subsidiary, Jio Payments Bank, has secured a contract to implement a seamless toll collection system across two toll plazas, Shahjahanpur and Manoharpura, on the Gurugram-Jaipur stretch.

 

The FASTag Automatic Number Plate Recognition (ANPR)-based Multi-Lane Free Flow (MLFF) toll system is an advanced electronic toll collection technology that accurately identifies, classifies, and charges vehicles travelling without requiring them to slow down, stop, or use designated toll lanes, the company said in a BSE filing.

 

The contract was awarded by the Indian Highways Management Company Limited (IHMCL), the toll-collecting arm of the state-owned National Highways Authority of India (NHAI), for managing toll processing under India’s pilot MLFF project. Jio Payments Bank has so far secured two of the five MLFF contracts awarded, the company said.

 

The company began FASTag-based toll collection in July 2025 and is currently managing toll operations at 11 toll plazas on different highway stretches across the country as an acquirer bank.

 

“Our expansion into the tolling ecosystem is a natural progression of our mission to digitise everyday payments and build smart financial infrastructure at scale," said Vinod Easwaran, managing director & chief executive officer (CEO) at Jio Payments Bank. 

Jio Financial Services' quarterly performance

 

Jio Financial Services reported a net profit of ₹324.66 crore in the first quarter of the financial year 2025-25 (Q1 FY26), up 4 per cent from ₹312.63 crore in the same period last year. Sequentially, net profit increased from ₹316.11 crore.

 

Revenue for the quarter rose 46.6 per cent to ₹612.46 crore from ₹417.82 crore in Q1 FY25. On a sequential basis, revenue grew 24.2 per cent from ₹493.24 crore in the March 2025 quarter.

 

However, total expenses for the quarter surged 228.2 per cent to ₹260.51 crore from ₹79.35 crore in Q1 FY25. The sharp increase was attributed to the company’s acquisition of State Bank of India’s 14.96 per cent stake in Jio Payments Bank.