Paytm Payments Bank leads cashless toll market with six million FASTags

Paytm Payments Bank Ltd (PPBL) said it is the leading issuer of the electronic toll collection system FASTag in the country with over 6 million FASTags, as more citizens avail the service with the government extending the deadline for its adoption. The firm said Paytm FASTag has gained popularity amongst users in the country due to its seamless onboarding and integration process which requires minimum documentation, instant activation and customer care support. PPBL has now enabled cashless toll payments across 250 plazas in the country.

"It has been our humble endeavour to empower Indians with the same convenience and seamlessness on-road that our app provides to our users in their daily lives,” said Satish Gupta, managing director and chief executive of  Paytm Payments Bank Ltd," said Satish Gupta, managing director and chief executive of Paytm Payments Bank Ltd. “The innovations that we have made in technology and the deep trust in our bank has helped us become the leading issuer of FASTags in the country.”

 

He said users have embraced the convenience of paying for tolls directly from their Paytm Wallet and not create separate accounts. “We continuously strive to ensure that customers are always charged the correct toll and have a hasslefree time on the road,” said Gupta.

Tags issued by other banks require buyers to provide multiple documents like ID proof, photographs, share personal details and maintain separate accounts and login credentials. Also, unlike tags from other banks which may require a couple of hours to get activated, Paytm FASTags are activated instantly from the moment users receive it. All FASTag transactions can be monitored on the Paytm app. Users can raise complaints on the app itself which are addressed by a dedicated customer support team working 24x7.

PPBL said it is the top issuer and the largest acquiring bank under the National Electronic Toll Collection (NETC) programme. It has also meticulously analyzed claims of higher toll charges raised by toll plazas against users. The company said PPBL has fought on the behalf of users against higher charges owing to misidentification of vehicles and double taxation. The firm said it has also successfully reversed the vast majority of wrong toll charges. Ensuring that users are not inconvenienced, Paytm said it has the distinction of being the FASTag issuer which raised 60 per cent of all disputes and 95 per cent of all arbitration cases in the NETC Programme.