FASTag to help cashless, contactless refuelling at select petrol pumps1 min read . Updated: 19 Jul 2021, 10:22 AM IST
FASTag, in collaboration with Indian Oil Corporation, will enable consumers to buy fuel from its outlets through digital mode.
- The process claims to be faster than using debit or credit cards for transactions at petrol pumps.
FASTag promises to be the quickest mode to get refuelled at a petrol pump in India as it ties up with Indian Oil Corporation for cashless, contactless payment for refuelling. FASTag users, who have their accounts linked to ICICI, will benefit at Indian Oil retail outlets across the country.
A statement released on Sunday said, "ICICI Bank FASTag users can now enjoy a fully digitised experience at IndianOil’s fuel stations which will reduce wait time for customers."
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According to the statement, around 3,000 Indian Oil retail outlets will be covered across India in the first phase of this initiative. The system is integrated with Indian Oil's automation system which removes any manual intervention during the fuelling process. This integration allows for payment of petrol, diesel, and lubricants through ICICI Bank FASTag.
"To avail this facility, customers must inform the customer attendant while fuelling, who will then scan the vehicle’s FASTag/car number plate. The customer will then receive an OTP to validate the transaction. The transaction will be completed when the OTP is entered in the POS machine," the statement said.
FASTag is currently used for digital toll collection across national highways in the country. The digital payment process was aimed to fasten and smoothen the toll collection process and reduce waiting time or long queues at the toll plazas. FASTag currently has nearly 35 million users across India with a penetration of around 96%.
FASTags can be purchased at any toll booth across the country. You can also buy FASTags through our website by clicking here. An ID along with your vehicle registration documents is all that is required to purchase a FASTag. Besides the toll plazas, FASTags can be bought through 22 banks including State Bank of India, HDFC Bank, Axis Bank, ICICI Bank, Kotak Bank and Paytm Payments Bank. Some of the e-commerce platforms like Paytm, Amazon and Flipcard also offer FASTags through their apps.