Now highways user can pay their toll charges online through Paytm enabled FASTag. Now it is very easy to recharge FASTag with Paytm e-wallet. National Highways Authority of India (NHAI) and online payment platform Paytm entered into partnership that allows cashless transactions for highway toll using the road ministry’s existing radio frequency tags.
FASTag introduced by NHAI for toll payments
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 is fixed on windscreen of vehicles which enable people to drive through toll plazas.
The device, fixed to the windscreen of vehicles, enables people to drive through toll plazas.
NHAI has partnered with paytm for selling e-Toll tags which is a big move in terms of expanding RFID based e-toll tags for faster movement of vehicles on highways.
The Paytm FASTag will allow commuters to pass through 350 toll plazas dotting 55,000 km of roads without having to stop.
What is the Vailidity period of FASTag ?
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.
What will be the benefits of this move ?
The rollout of Paytm enabled FASTag will come as a relief to both commuters and toll plaza attendants.
It will help towards the national cause of saving fuel.
Cash slows down traffic at important toll plazas due to hassles of dealing in cash or loose change. There will be faster movement of vehicles on highway with FASTag.
If all the vehicles passing via toll plazas choose RFID based electronic payments. Not only precious fuel can be saved, but also time and resources would be preserved.
NHAI is also requesting RBI to ease KYC norms for issuing RFID, which is pasted on windshield of vehicles.