Home / Finance / News / RBI allows use of UPI and other non-bank payment methods to link FASTags

RBI allows use of UPI and other non-bank payment methods to link FASTags

Move to boost NETC, foster competition among system participants; turnaround time for resolving failed transactions will be applicable to the transactions carried out in the NETC system

The National Highways Authority of India introduced FASTags that uses radio frequency identification technology and allows cars to pass tolls without stopping for payment

Premium

The tag enables automatic deduction of toll charges from the prepaid or savings account linked to it by using radio frequency identification (RFID) technology, while the vehicle is in motion.

Nidhi Rai Mumbai

2 min read Last Updated : Dec 31 2019 | 3:18 AM IST

The Reserve Bank of India has said that now customers can use non-bank prepaid payment instruments (PPIs), cards and Unified Payments Interface (UPI) to link FASTags. The move is expected to boost the National Electronic Toll Collection (NETC).

In its notification RBI has said, “In order to further broad base this system by allowing more payment choices for the customers, as well as for fostering competition among the system participants, all authorised payment systems and instruments non-bank PPIs, cards and Unified Payments Interface (UPI) shall from now be permitted for linking with the FASTags, which can be used for various

Topics : FASTag Unified Payments Interface UPI transactions Reserve Bank of India RBI

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in