Paytm Payments Bank issues 1 crore FASTag RFIDs, enables 280 toll plazas
Paytm Payments Bank Ltd (PPBL) recently announced that it has now issued more than 1 crore FASTag RFIDs with 40 lakh stickers issued in just the first six months of 2021. Paytm also claimed that the figure of 1 crore is around 30% of all FASTag stickers issued by 32 banks in India.
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FASTag are mandatory stickers for vehicles in the country which enable seamless movement across toll plazas with payments being made digitally. The FASTag stickers ensure less waiting time when crossing toll booths, thereby saving time as well as fuel.
Towards this end, Paytm informed that it is now the largest acquirer of toll plazas - 280 - for the National Electronic Toll Collection (NETC) program. Closely working with the National Highway Authority of India (NHAI), Paytm says testing is being down for implementing multi-lane free-flow movement using automatic number plate recognition technology. "It is overwhelming to lead the adoption of digital toll payments in India by offering a seamless & hassle-free FASTag service to both our users and toll operators," said Satish Gupta, MD and CEO at PPBL. "We aim to continue taking the government's initiative of building digital highways across the country further with our payments technology."
In the case of a consumer complaint, Paytm states that a dispute refressal mechanism has been established which seeks to indentify incorrect deductions and raises claimed to reverse extra charges. Around 82% of cases have been won on behlaf of FASTag users.
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