Udayavni Special

Paytm to launch FASTag-based parking service across country; starts with DMRC


PTI, Sep 13, 2021, 3:08 PM IST

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) on Monday 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.

”This is another step towards digitalization in the DMRC’s endeavour to provide solutions to our customers especially in these times when contactless transactional methods are the need of the hour,” DMRC Managing Director Mangu Singh said in a statement issued by PPBL. Paytm Payments Bank became the first bank in the country to achieve the milestone of issuing one crore FASTags in June. According to NPCI, over 3.47 crore FASTags were issued by all banks together till the end of June 2021.

”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,” the statement said. The bank is also in discussion with various stakeholders to implement digital payment solutions for parking areas at shopping malls, hospitals and airports, it added.

”It has been our endeavour 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.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

List of best IPL betting apps in India; Bonuses for new bettors

PM Modi holds first bilateral meeting with US President Joe Biden

Rohini court shootout: Lawyers demand probe, call for abstaining from work

Bomb scare case: Waze seeks court nod for ”house custody” for post-surgery recovery

Cinemas allowed to operate at 100% capacity

Karnataka has “best managed” the COVID-19 pandemic: Minister

We can fund upto Rs 10 crore to develop innovative products, says DRDO chairman

Related Articles More

Journey of Sensex: From 1,000 to 60,000 in over 31 years

Amazon India to host ”Great Indian Festival 2021” from Oct 4

Rupee falls 13 paise to 73.77 against US dollar in early trade

Sensex zooms over 350 pts to hit 60K for first time; Nifty crosses 17,900

Market at fresh peak: Sensex skyrockets 958 pts; Nifty tops 17,800

MUST WATCH

Pigs and street dogs in dandeli city

Kahale: Contributions Of North Karnataka To State,

Blacksmith works problem in thekkatte

UDAYAVANI NEWS BULLETIN|24/9/2021

SL Ghotnekar at dandeli


Latest Additions

List of best IPL betting apps in India; Bonuses for new bettors

PM Modi holds first bilateral meeting with US President Joe Biden

Delhi HC extends till Nov 31 deadline to seed Aadhaar with UAN

Rohini court shootout: Lawyers demand probe, call for abstaining from work

Bomb scare case: Waze seeks court nod for ”house custody” for post-surgery recovery

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.