Paytm to offer cashless transactions at highways tolls with Paytm FASTag
With the move towards cashless transactions, Paytm has now launched toll fee payment using the Paytm wallet.
Paytm has announced its partnership with the National Highways Authority of India (NHAI) to enable cashless transaction on highway tolls across the country. The company would embed the Paytm-enabled FASTag into the vehicle, which employs RFID technology to allow cashless toll fee payment with the Paytm Wallet.
The Paytm FASTag will allow commuters to pass through 350 toll plazas covering 55000 kms without requiring to stop to pay toll fees. The company aims to collect over Rs. 1800 Cr in toll charges in the coming months.
Speaking about the initiative, 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.”