Paytm to Launch FASTag-based Parking Service Across Country
<span style="font-weight: 400;">Digital payment and financial services firm Paytm plans to deploy FASTag-based parking services across the country after having launched the first such project with Delhi Metro Rail Corporation. </span> <span style="font-weight: 400;">Paytm Payments Bank Ltd (PPBL)
Published -
Sep 14, 2021 4:34 AM
Digital payment and financial services firm Paytm plans to deploy FASTag-based parking services across the country after having launched the first such project with Delhi Metro Rail Corporation. Paytm Payments Bank Ltd (PPBL) said, "It has enabled the country's first FASTag-based metro parking facility in partnership with the Delhi Metro Rail Corporation (DMRC)." As an acquiring bank for the parking facility at the Kashmere Gate metro station, PPBL will facilitate the processing of all FASTag-based transactions for cars having a valid FASTag sticker which eliminates the need for stopping to pay cash at the counter. Additionally, Paytm Payments Bank has enabled a UPI-based payment solution for two-wheelers entering the parking site. Paytm Payments Bank became the first bank in the country to achieve the milestone of issuing one crore FASTags in June. PPBL will digitize parking facilities across the country with Kashmere Gate metro station being the first one to be powered by the bank's digital payment solution. The bank is closely working with various municipal corporations across several states to initiate FASTag-based parking facilities both at organized and unorganized sites. ''We have endeavored to expand the FASTag network in our country. In this quest, we are excited to partner with the Delhi Metro Rail Corporation for enabling digital payment solutions at their parking facility. We will continue to work with other parking providers across the country to adopt a safe and contactless payment solution by implementing the FASTag system,'' PPBL managing director and CEO Satish Gupta said.
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