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Paytm Payments Bank becomes the leading issuer of FASTags

Shreoshree Chakrabarty January 11, 2021
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As the government extends the deadline for the adoption of FASTags, Paytm Payments Bank Ltd (PPBL) with over 6 million FASTags, becomes the leading issuer of FASTag in the country. Due to its seamless onboarding and integration process, Paytm FASTag has gained popularity amongst users in the country. This process requires instant activation minimum documentation and unmatched customer care support. Now, across 250 plazas in the country, PPBL has now enabled cashless toll payments.

Users can pay directly from their Paytm wallet and this makes Paytm FASTag, country’s most preferred toll payment method. No separate account or downloading a wallet is required to recharge the FASTags. Various documents such as photographs, ID proof, personal details are needed by other banks if they issue tags so that they can maintain separate accounts and login credentials. Paytm FASTags are activated instantly from the moment users receive it, unlike tags from other banks which may require a couple of hours to get activated. The Paytm app can monitor all FASTag transactions. A dedicated customer support team is working 24×7 to address the complaints raised on the app itself.

Satish Gupta, MD & CEO – Paytm Payments Bank Ltd. said “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. 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. 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. We aim to expand our services across the length and breadth of the country and contribute towards building fully digital journeys on highways.”

Under the National Electronic Toll Collection (NETC) programme, Paytm Payments Bank is the top issuer and the largest acquiring bank. Toll plazas claim higher toll charges against users, as it has meticulously analyzed. On behalf of users, Paytm Payments Bank has fought against higher charges owing to misidentification of vehicles and double taxation. The vast majority of wrong toll charges has also reversed. Ensuring that users are not inconvenienced, Paytm Payments Bank has the distinction of being the FASTag issuer which raised 60% of all disputes and 95% of all arbitration cases in the National Electronic Toll Collection Program.

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