Now Pay Highway Tolls via Paytm
India's largest mobile wallet, Paytm has partnered with the National Highway Authority of India (NHAI) to enable cashless transaction on highway tolls across the country. With its extremely vast network of roads, India has a large number of toll booths spread across the country. While crossing these booths, users are required to pay taxes that may range around a few hundreds of rupees. Paytm is now reducing hassles through its collaboration with the NHAI that will take these transactions cashless as well.
The tag has RFID technology that will allow the cashless toll fee using Paytm wallet. In April, NHAI had introduced FASTag, a device that uses radio frequency identification technology for making toll payments directly from a prepaid account linked to it.
The device, fixed to the windscreen of vehicles, enables people to drive through toll plazas. The Paytm FASTag will allow commuters to pass through 350 toll plazas dotting 55,000 km of roads without having to stop.
FASTag has a validity of five years. A commuter who purchases a FASTag needs to top-up the credit in it as per requirement. Paytm aims to collect over Rs 1,800 crore in toll charges in the coming months, the company said.
Speaking on the topic, Kiran Vasireddy, Sr. Vice President – Paytm said,
Meanwhile, with this the platform’s roster now includes highway tolls, petrol pumps, grocery outlets, restaurants and coffee shops, multiplexes, local tea or vegetable vendors and even the newspaper vendors as those accepting cashless payments. And lets not forget the last collaboration between paytm and the Indian railways, which is already letting you book tickets using the platform.
Cheers!!!
The tag has RFID technology that will allow the cashless toll fee using Paytm wallet. In April, NHAI had introduced FASTag, a device that uses radio frequency identification technology for making toll payments directly from a prepaid account linked to it.
The device, fixed to the windscreen of vehicles, enables people to drive through toll plazas. The Paytm FASTag will allow commuters to pass through 350 toll plazas dotting 55,000 km of roads without having to stop.
FASTag has a validity of five years. A commuter who purchases a FASTag needs to top-up the credit in it as per requirement. Paytm aims to collect over Rs 1,800 crore in toll charges in the coming months, the company said.
Speaking on the topic, Kiran Vasireddy, Sr. Vice President – Paytm said,
Cash slows down traffic at important toll plazas as attendants and motorists are left grappling with the hassles of dealing in loose change. The roll-out of Paytm-enabled FASTag will come as a relief to both commuters and toll plaza attendants and help towards the national cause of saving fuel.With this move, Paytm is inching closer to its vision of making cashless transactions a way of life across India. This will propel India towards becoming a cashless economy in the truest sense of the word, he added.
Meanwhile, with this the platform’s roster now includes highway tolls, petrol pumps, grocery outlets, restaurants and coffee shops, multiplexes, local tea or vegetable vendors and even the newspaper vendors as those accepting cashless payments. And lets not forget the last collaboration between paytm and the Indian railways, which is already letting you book tickets using the platform.
Cheers!!!
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